Strong Demand, Tight Inventory and Unsatisfied Millennials Define Today’s “State of the Housing Union”

Santa Clara, CA – Jan. 25, 2018 (PRNewswire) Ahead of next week’s State of the Union address, realtor.com® today released its own “State of the Housing Union,” which shows the strong U.S. economy and unprecedented housing shortage pressuring potential home buyers striving to attain the American Dream. According to the analysis, strong buyer demand, constrained inventory, and ready-to-buy first timers are the key underlying dynamics driving today’s housing market.

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“The macro-factors that have defined real estate in recent years – strong demand and weak supply – continue to set the tone for the industry,” said Joe Kirchner, senior economist for realtor.com®. “The new tax law that caps the mortgage interest deduction and the deductibility of state and local taxes can be expected to impact the upper-end market in 2018 – precisely how and the extent of which remain to be seen.”

A robust and growing economy

Leading indicators point to a solidly upbeat U.S. economic story. Consumer confidence has spiked, according to the Conference Board’s consumer confidence index, as unemployment fell to its lowest level since 2000 (4.1 percent) and the economy added jobs for a record 86th consecutive month, according to November data from the U.S. Labor Department. At the same time, the U.S. stock markets reached all-time highs over the last few months and retail sales (dollars spent in stores, in restaurants and online) capped a strong year with 2017 holiday sales that increased more than 5.5 percent year over year, according to the National Retail Federation.

Real Estate Infographic

Home prices and sales held back by low inventory

Nevertheless, sales growth of existing U.S. homes actually cooled, only increasing 1.1 percent in 2017 as compared to a 3.8 percent gain the previous year. Prices appreciated 5.8 percent on average during 2017, compared to 5.1 percent a year earlier.

Inventory fell 8.8 percent nationally in the 12 months ending Dec. 31, 2017 versus a 10.7 percent dip during the comparable period a year earlier, and tight supply was the single biggest factor affecting the market. Even a sharp increase in new construction – single-family housing starts jumped 8.4 percent and 10.2 percent the previous year – couldn’t offset inventory shortages.

Millennial demand is strong but limited by constrained supply

Realtor.com®data shows millennial aspiring first time home-buyers fell victim to the inventory pinch in the last 12 months. Spurred on by steady employment and life events, such as getting married and starting a family, many of these buyers actively pursued home purchases but hit the wall of tight inventory. With the majority of new construction in mid to upper tier price points, new homes have provided very limited relief to these would-be home owners.

“Builders will need to focus more on homes geared for moderate incomes, partner with the government on initiatives to transform distressed urban neighborhoods and overcome labor shortages through a combination of workforce development training and pressure to ease artificial restrictions on the supply of labor,” added Kirchner.

Red vs. blue states in 2017

In a comparison of red and blue states, blue states saw higher home price growth last year, at 9.1 percent, than red states, at 5.9 percent. They also saw stronger sales growth at 1.6 percent versus 0.7 percent in red states.

Blue states – California and Illinois and the tri-state region of New York, New Jersey and Connecticut, for example – skew more urban and suburban than largely rural red states. Highly developed cities, towns and neighborhoods in blue states make finding buildable property extremely challenging, especially with demand at current levels. This supply-and-demand dynamic is the principal reason price appreciation in blue states outstripped price increases in red states in 2017.

Blue states also have some challenges ahead with the tax bill. Last year, 2.5 percent of all mortgages in blue states were more than $750,000 and will be directly impacted by the capping of the mortgage interest deduction in 2018. Conversely, only 0.4 percent of mortgages in red states will be impacted.

Realtor.com® tracks and analyzes market trends and makes timely and insightful information available at realtor.com/research. Data snapshots, affordability distribution and market “hotness” are just some of the resources available at the portal.

About realtor.com®

Realtor.com® is a leading online real estate destination operated by News Corp [NASDAQ: NWS], [NASDAQ: NWSA]; [ASX: NWS]; [ASX: NWSLV] subsidiary Move, Inc. Realtor.com®, a trusted resource for home buyers, sellers and dreamers, offers the most comprehensive source of for-sale properties, among competing national sites, and the information, tools and professional expertise to help people move confidently through every step of their home journey. It pioneered the world of digital real estate 20 years ago, and today helps make all things home simple, efficient and enjoyable. Realtor.com® is operated by Move under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com®.

Contact:

Lexie Holbert
Lexie.Puckett@move.com

14 Mayors And CEOs Across U.S. Launch New Push To Protect, Expand Federal Investment In Affordable Housing And Homeless Services

City chief executives with 13 million constituents join with CEOs for first time in new coalition

Diverse group of Republicans, Democrats, business leaders from Arizona, Arkansas, California, Colorado, the District of Columbia, Pennsylvania recommends four federal policy changes

Washington, D.C – Jan. 25, 2018 (PRNewswire-USNewswire) Today, U.S. mayors representing 13 million Americans joined with a diverse set of powerful U.S. businesses to launch Mayors & CEOs for U.S. Housing Investment, a first-of-its-kind coalition of local government and business leaders collaborating to advance public-private partnerships that tackle affordable housing and homelessness and actively oppose current funding cuts.

The concept was initiated one year ago by the late Mayor Ed Lee of San Francisco and joined quickly by other launch mayors.

Housing Invesment Logo

“In Washington, DC, we are committed to ending homelessness and expanding access to safe and affordable housing. As leaders across the country work to tackle these issues, we recognize that the best thing we can do for our residents and communities is to come together, share our solutions and investments, and support and multiply the programs and ideas that are working,” said Washington, D.C. Mayor Muriel Bowser. “As we stand here at the John and Jill Ker Conway Residence with views of the United States Capitol, we recognize that by investing in affordable housing, we are investing in safer, stronger communities and building new pathways to the middle class for our most vulnerable residents.”

The Residence currently offers new, permanent housing for 60 formerly-homeless veterans and 64 low-and moderate- income DC residents at a time the U.S. Department of Housing and Urban Development (HUD) estimates that more than half-a-million Americans experienced homelessness on a given night in 2017.

“Cities across the country are entering into innovative public-private partnerships with private industry to urgently, creatively and comprehensively address the homeless crisis,” said Sacramento Mayor Darrell Steinberg. “In Sacramento, Sutter Health has stepped up to provide critically needed resources for permanent housing, service-rich temporary shelters, and cutting-edge assertive outreach. Together, Mayors and CEOs are embarking on a campaign to advocate for the resources and policies we know work to address the crisis.”

“An affordable place to live should be within reach for everyone in America who dreams of making a better life for themselves their family,” said Los Angeles Mayor Eric Garcetti. “Too many cities across the country are facing an unprecedented housing crisis. We are here to call on leaders in Washington to develop new revenue streams and incentives that communities need to build and preserve the affordable housing that all of our communities deserve.”

American businesses agree.

“Airbnb is built on the foundation of creating community through belonging and we’re honored to stand with a bipartisan group of mayors and businesses from across the country dedicated to improving communities by addressing affordable housing and homelessness,” said Nathan Blecharczyk, Co-founder and Chief Strategy Officer of launch partner Airbnb. “Our experience has shown the best solutions are often the result of the public and private sectors working together, and so we are particularly proud to be working with this coalition to identify and fund innovative ideas that work.”

“Homelessness is a national crisis that is felt acutely within the Northern California communities that Sutter Health serves,” said James Conforti, President of Sutter Health, Valley Area. “As a not-for-profit health system, we know that addressing homelessness improves individual lives and the health and wellbeing of whole communities. Sutter Health is committed to supporting public-private partnerships because collaboration is key to helping all of us live healthy productive lives.”

The very nature of launch partner GHC Housing Partners CEO Gregory Perlman’s business gives him unique perspective, saying, “The lack of affordable housing is one of the greatest problems cities face across the nation – from young children to working adults to the elderly, the problem affects every level of our society and will only get worse if we don’t all act together as a team. There are no perfect solutions, and it will take the private sector and the public sector to come up with a lot of ingenuity to tackle this problem. As one of the largest affordable housing owners in the US, we acquire, develop, manage and operate more than 20,000 affordable units across the U.S. and we want to share our experience and expertise on how to improve the system and work with the public sector to tackle this problem together. We’ve seen what government and business can do when they work together and we believe this new coalition can be a powerful catalyst for the next phase in affordable housing investment and homeless services.”

A recent National Association of Home Builders study shows that innovative investing in, and building of, 100 affordable rental homes can generate more than $11 million in local income, $2 million in taxes and other revenue for local governments, and more than 160 local jobs, all in the first year. As the National Low Income Housing Coalition found, that investment bears dividends economically and socially, in that for every additional year a child spends in a better neighborhood environment, their economic outcome as an adult improves, extending benefits into their community.

“All families and children in our communities need a safe and sustainable home,” said Aurora, Colorado Mayor Steve Hogan. “As city leaders, we have the ability and obligation to help address the issue of homelessness. This new initiative will pursue partnerships and creative solutions to take the conversation in new directions to help improve the well-being of those impacted by this national problem.”

“We are working tirelessly to make our housing market work for everyone who calls our city home, and we need to pull on every lever we can to offer more affordable options to our people,” said Denver Mayor Michael Hancock. “By coming together to advocate for more investments in affordable housing here in Denver and across the country, we can better provide individuals, families and those in need of a good home to call their own with the support they need to build their lives and build their futures.”

Phoenix Mayor Greg Stanton focused on the diversity of the campaign when he said, “I am proud to join the Mayors and CEOs for U.S. Housing Investment coalition in our bipartisan campaign effort representing geographically diverse urban, rural and suburban municipalities. A lack of affordable housing can put a local economy at a competitive disadvantage as many employers have reported that a lack of affordable housing makes it more difficult and costly to recruit and retain employees. Affordable housing payments can significantly increase the residual income that households have at their disposal, which allows local businesses to gain from the increased buying power.”

His fellow Arizonan, Mesa Mayor Brian Giles, said, “Unfortunately, and all too often, too many people in our cities struggle to know where they will next find a roof to sleep under or food to eat. I’m excited to join with the Mayors & CEOs for U.S. Housing Investment initiative to shine a powerful light on these challenges and work towards solutions that will empower those in need while ensuring strong, safe communities.”

Philadelphia Mayor Jim Kenney said, “We’re building a Philadelphia that works for every neighborhood – and that begins with the opportunity for a safe roof over your head. Decades of work unfortunately show that government cannot solve homelessness and the need for affordable housing alone – and neither can business. Now the two are joining forces to make what we hope will be substantial progress in these related and vexing issues.”

Oakland Mayor Libby Schaaf added that “Mayors and business leaders have a unique understanding of the needs in the community, and the economic barriers which hold cities back from reaching their goal of creating stable and thriving communities. The creation of a bipartisan coalition made up of elected officials and CEOs, working in concert with nonprofit leaders and policy experts, will send the strong message to our federal government that investing in affordable housing and programs to prevent homelessness, will lead to economic growth, a better trained and prepared workforce, and stronger, more resilient cities.”

San Diego Mayor Kevin Faulconer recognizes the issue’s multifaceted complexity, saying, “In San Diego, our approach to reducing homelessness is housing first but not housing only. As cities like San Diego are taking new and different approaches to address homelessness, we are also investing significant local resources. More dedicated investment from Washington will make a tremendous impact on our ability to improve the lives of thousands of our most vulnerable residents.”

Mayor Mark Stodola, president of launch partner National League of Cities (NLC) and mayor of Little Rock, offered dual perspectives in closing, saying, “Every day, mayors in cities and towns across the country are faced with the acute realities of homelessness and the dire need for affordable housing. The National League of Cities and the city of Little Rock are committed to working with mayors and business leaders to put an end to homelessness and create permanent solutions to our housing crisis. The energy and support of these leaders gathered here under the banner of Mayors & CEOs for U.S. Housing Investment is an important tool to achieve these ends.”

Mayors & CEOs for U.S. Housing Investment recommends four policy changes to help stabilize the current outlook:

1. Maximize funding for existing federal programs that work, like Section 8 Housing Vouchers, Continuum of Care Homeless Assistance Grants and Community Development Block Grants.

2. Issue new, competitive HUD-HIIRO (Housing Innovation, Investment and Reform Opportunities) grants modeled after the Department of Transportation’s successful TIGER grants, designed for local communities to reward innovative thinking and collaborative, cross-sector projects to combat homelessness and affordable housing problems. These types of programs have proven to leverage local investment to provide strong social and economic returns.

3. Build on the successful HUD-Veterans Affairs Supportive Housing model through HUD-PASS (Partnerships Accelerating Supportive Services), which would pair HUD vouchers with Health and Human Services programs to help families and individuals experiencing homelessness who have mental health issues and other barriers to assistance.

4. Create a Housing Stabilization Fund – a pool of funds within HUD that can provide one-time, short-term emergency housing assistance to households below 80% of AMI. Funds would be initially allocated to communities by formula, and subsequently on a pro rata basis adjusted for performance. There are many low-income renter and owner households which, while generally able to afford their homes, still lack any cushion when faced with a housing emergency. For these households, the loss of a job or a health emergency can result in eviction and a downward spiral of housing instability that often ends in homelessness. Unfortunately, there is no consistent housing program, fund or tool to help prevent such losses.

About Mayors & CEOs for U.S. Housing Investment

Mayors & CEOs for U.S. Housing Investment is a 501(c)(3) coalition advocating for federal investment in affordable housing and homeless services. It is represented by Holland & Knight LLP in partnership with the National League of Cities and is advised by the National Alliance to End Homelessness. Objective Lab is the coalition’s communications and public affairs partner.

Buying A Home More Affordable Than Renting In 54 Percent Of U.S. Housing Markets

But 64 Percent of Population Live in Markets More Affordable to Rent Than Buy; Least Affordable Rental Markets Led by Counties in Northern California, DC, Brooklyn; Most Affordable Rental Markets in Alabama, Illinois, Ohio, Tennessee

Irvine, CA – Jan. 11, 2018 (PRNewswire) ATTOM Data Solutions, curator of the nation’s largest multi-sourced property database, today released its 2018 Rental Affordability Report, which shows that buying a median-priced home is more affordable than renting a three-bedroom property in 240 of 447 U.S. counties analyzed for the report — 54 percent.

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The analysis incorporated recently released fair market rent data for 2018 from the U.S. Department of Housing and Urban Development, wage data from the Bureau of Labor Statistics along with public record sales deed data from ATTOM Data Solutions in 447 U.S. counties with sufficient home sales data (see full methodology below).

“Although buying is still more affordable than renting in the majority of U.S. housing markets, that majority is shrinking as home price appreciation continues to outpace rental growth in most areas,” said Daren Blomquist, vice president at ATTOM Data Solutions. “Renting has clearly become the lesser of two housing affordability evils in many major population centers, with renting more affordable than buying in 76 percent of counties that have a population of 1 million or more. And when broken down by population rather than number of markets, this data shows that the majority of the U.S. population — 64 percent — live in markets that are more affordable to rent than to buy.”

Renting more affordable than buying in nation’s most populated counties
Counter to the overall trend, renting is more affordable than buying a home in the nation’s 14 most populated counties and in 30 of 39 counties with a population of 1 million or more (76 percent) — including Los Angeles County, California; Cook County (Chicago), Illinois; Harris County (Houston), Texas; Maricopa County (Phoenix), Arizona; and San Diego County, California.

Other markets with a population of more than 1 million where it is more affordable to rent than to buy a home included counties in Miami, New York City, Seattle, Las Vegas, San Jose, San Francisco and Boston.

“The thing about this data that concerns me the most is that it is now more affordable to rent in the greater Seattle area than buy. Even with solid income growth, the rapid rise in home prices is keeping many would-be buyers out of ownership,” said Matthew Gardner, chief economist with Windermere Real Estate, covering the Seattle market. “To make matters worse, rapid rental rate growth in the core King County market is forcing many renters to look farther out to find something they can afford. Seattle needs considerably more affordable housing for renters and home buyers alike. Unless something changes, the area will remain very expensive, pricing many buyers out of the market.”

Among the 39 U.S. counties analyzed in the report with a population of 1 million or more, the nine where it is more affordable to buy a home than rent included Tarrant County (Dallas), Texas; Broward County (Miami), Florida and Bexar County, (San Antonio) Texas.

Least affordable rental markets in Northern California, DC, Brooklyn
The report shows that renting a three-bedroom property requires an average of 38.8 percent of weekly wages across the 447 counties analyzed for the report.

The least affordable markets for renting were Marin County, California (79.5 percent of average wages to rent); Spotsylvania County (Washington, D.C. area), Virginia (75.5 percent) and Honolulu County, Hawaii (71.9 percent).

Most affordable rental markets in Alabama, Illinois, Ohio, Tennessee
The most affordable markets for renting were Madison County (Huntsville), Alabama (22.3 percent of average wages to rent); Tazewell County (Peoria), Illinois (23.6 percent); and Greene County (Dayton), Ohio (24.1 percent).

Rents rise faster than wages in 60 percent of markets
Average fair market rents rose faster than average weekly wages in 266 of the 447 counties analyzed in the report (60 percent), including Los Angeles County, California; Cook County, Illinois and Harris County, Texas.

Home prices rising faster than rents in 59 percent of markets
Median home prices rose faster than average fair market rents in 263 of the 447 counties analyzed in the report, including Los Angeles County, California; Cook County, Illinois and San Diego County, California.

Full Report & Methodology

About ATTOM Data Solutions
ATTOM Data Solutions is the curator of the ATTOM Data Warehouse, a multi-sourced national property database that blends property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, health hazards, neighborhood characteristics and other property characteristic data for more than 150 million U.S. residential and commercial properties. The ATTOM Data Warehouse delivers actionable including bulk file licenses, APIs and customized reports.

Media:

Christine Stricker
714.873.4275
christine.stricker@attomdata.com

Data and Report Licensing:
949.502.8313
datareports@attomdata.com

San Jose and Raleigh are Zillow’s Hottest Housing Markets for 2018

Tech-towns Seattle and San Francisco also make top rankings along with several Sun Belt markets

Seattle, WA – Jan. 9, 2018 (PRNewswire) Today, Zillow® announced its predictions for 2018’s hottest housing markets. Topping the list this year is Silicon Valley’s San Jose, Calif., followed by Raleigh, N.C. and Seattle.

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To identify 2018’s hottest housing markets, Zillow looked for places with quickly rising home values and rental prices, low unemployment rates, steady income growth and strong job opportunities with lots of people moving to the area.

Austin, Texas has the strongest population growth on the top 10 list, at 2.8 percent. Seattle has the highest forecasted rental appreciation, with rents in the metro expected to climb another 3.5 percent over the next 12 months.

Rapid home value growth and a high number of job openings per person are the driving forces behind San Jose’s position at the top of Zillow’s list. The San Jose housing market has been booming for several years, mainly due to people moving to the area for high-paying jobs. Zillow’s analysis highlights just how strong the San Jose market really is. While San Francisco home values have recently started to cool, San Jose is off to the races, with home values projected to rise 9 percent in 2018. The median home value in San Jose is over $1 million, and the median rental price is $3,514 per month. Over the past five years, San Jose home values have appreciated 78 percent.

Although Zillow’s list is largely made up of established tech towns, two increasingly hot North Carolina markets also made the top 10 ranking. Income and population growth in Charlotte and Raleigh are among the strongest of all markets on the list. Raleigh anchors North Carolina’s “Research Triangle” and saw a 9 percent increase in income growth last year. In Charlotte, a fast-growing banking center, incomes rose about 9.5 percent over the past year.

Zillow’s Top 10 Housing Markets for 2018:

1. San Jose, CA
2. Raleigh, NC
3. Seattle, WA
4. Charlotte, NC
5. San Francisco, CA
6. Austin, TX
7. Denver, CO
8. Nashville, TN.
9. Portland, OR
10. Dallas, TX

“This list shows that just because a market is smaller or more affordable doesn’t mean it isn’t dynamic,” said Zillow senior economist Aaron Terrazas. “Growing cities in the Sun Belt, places like Raleigh, Charlotte and Nashville, offer plenty of opportunities healthcare and finance, while providing a less-expensive, but still-convenient, alternative to the larger and pricier markets in the Northeast. The tech industry continues to roar, attracting thousands of new residents per year to tech-dominant markets like Seattle, Denver and the Bay Area. The higher cost of living in these areas is offset to a large degree by well-paying tech jobs.”

In nine out of the 10 markets on Zillow’s list, home values are expected to rise at a faster pace than the nation overall, with the exception of Denver. Nationally, Zillow expects home values to appreciate 3.2 percent over the next year.

Zillow used six variables to determine the hot market predictions: Zillow’s Home Value and Rent Forecast, which forecasts the change in the Zillow Home Value Index(i) and Zillow Rent Index(ii) over the next 12 months, recent income and population growth(iii), current unemployment rates(iv), the number of job openings per person using data from Glassdoor. Those six variables were then scaled for the 50 largest U.S. metros and combined to form a ‘hotness score,’ producing the top ten list.

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About Zillow
Zillow is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the place they call home, and connecting them with the best local professionals who can help. In addition, Zillow operates an industry-leading economics and analytics bureau led by Zillow’s Chief Economist Dr. Svenja Gudell. Dr. Gudell and her team of economists and data analysts produce extensive housing data and research covering more than 450 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price Expectations Survey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow Home Value Index over the next five years. Zillow also sponsors the bi-annual Zillow Housing Confidence Index (ZHCI) which measures consumer confidence in local housing markets, both currently and over time. Launched in 2006, Zillow is owned and operated by Zillow Group Inc. (NASDAQ: Z and ZG), and headquartered in Seattle.

Zillow is a registered trademark of Zillow, Inc.

(i) The Zillow Home Value Index (ZHVI) is the median estimated home value for a given geographic area on a given day and includes the value of all single-family residences, condominiums and cooperatives, regardless of whether they sold within a given period. It is expressed in dollars, and seasonally adjusted.

(ii) The Zillow Rent Index (ZRI) is the median Rent Zestimate® (estimated monthly rental price) for a given geographic area on a given day, and includes the value of all single-family residences, condominiums, cooperatives and apartments in Zillow’s database, regardless of whether they are currently listed for rent. It is expressed in dollars.

(iii) Incomes in this analysis were determined using Moody’s Analytics® estimates from the Census Bureau. Population growth was determined using ACS 2015 and 2016 1-year estimates.

(iv) Unemployment rates in this analysis were determined using Moody’s Analytics® estimates from the Bureau of Labor Statistics, Local Area Unemployment Statistics.

California Housing Package Launched January 1 with a Resolution to Ease Housing Costs, Shortage

Billions in funding, expediting development key to success

Sacramnto, CA – January 3rd, 2018 (BUSINESS WIRE) California’s far-reaching housing package went into effect January 1, 2018, launching a major breakthrough for funding and fast-tracking housing development, especially for lower-income residents in the state.

California Department of Housing and Community Development Logo

California lawmakers approved the 15-bill housing package September 15, and Governor Edmund G. Brown signed the legislation two weeks later, building the foundation to help with the state’s fast-rising housing costs and easing local regulations that create financial hurdles and lengthy delays hurting low-income and middle-class families.

The California Department of Housing and Community Development is hosting a dedicated page of the department’s website, www.hcd.ca.gov as a one-stop-shop for the housing package, including summaries for all 15 bills and downloadable materials; frequently asked questions and implementation plans will be added soon.

“The housing package brings funding for more housing for low-income residents, requires that cities and counties follow their affordable housing plans, and removes roadblocks for much-needed projects,” said Ben Metcalf, Director of the California Department of Housing and Community Development. “The package will not solve the housing cost and the housing shortage challenges overnight, but provides a very solid foundation that we can build on in the years ahead.”

SB 2 is expected to generate an estimated $250 million a year to finance the construction of affordable housing and SB 3 places a bond measure on the November 2018 statewide ballot. If passed, the bond would provide $3 billion to finance affordable housing for low-income residents and another $1 billion for home and farm purchases for veterans.

Other bills streamline the approval process, fund planning and technical assistance to cities and counties, provide financial incentives for expediting certain housing developments, and provide one-time funding for homelessness programs.

“California’s housing challenges demand that everyone works together on solving the problem,” said HCD’s Metcalf.

Only 28% of the state’s households could afford to buy the median-priced home during the third quarter, the lowest percentage in a decade, according to a recent report from the California Association of Realtors.

The financial challenges are just as difficult for households that rent. More than 3 million households—the equivalent of the combined populations of San Diego, San Jose and San Francisco—pay at least 30% of their income on rent. And more than 1.6 million low-income households spend more than 50% of their income on rent.

The housing package will have a far-reaching effect beyond just affordable housing and expediting development. Infill, mixed-use and transit-oriented developments are part of the plan, allowing more low-income residents to live closer to work, which will ease congestion on roadways, improve air quality, and reduce health issues for many Californians.

About California Department of Housing and Community Development

The California Department of Housing and Community Development is dedicated to the preservation and expansion of safe and affordable housing so more Californians can have a place to call home. Our team works to ensure an adequate supply of housing for Californians and promotes the growth of strong communities through its leadership, policy, and program development. For more information, please visit www.hcd.ca.gov and sign up for HCD’s listserv announcements, follow us on Twitter, @California_HCD and Facebook.

Contacts

California Department of Housing and Community Development
Evan Gerberding
(916) 263-7408
evan.gerberding@hcd.ca.gov