- Affordable Rental Housing A.C.T.I.O.N. (A Call to Invest in Our Neighborhooods) has released both a National Fact Sheet and State specific Fact Sheets on the impact of the Low Income Housing Tax Credit Impact (LIHTC), which it characterizes the LIHTC as “the most effective affordable housing production tool.” The National Fact sheet indicates among other things that 2,798,776 units were developed or preserved via the LIHTC. The New York State Fact Sheet, in particular, indicates that 2,357,234 New York households pay more than half of their income in rent (a data point which is included for all states).
- The New York Federal Reserve’s interactive Home Price Index Tool maps overall changes in home prices across localities of the United States as compared to the previous month – the data is current from June 2007 through June 2015.
- The Urban Institute has published, Charted: How Housing Policy Impacts Inequality in which it charted a correlation between housing benefits and income inequality. Their findings indicate that when these benefits go to the well of in the form of the mortgage interest deduction and real estate tax deduction inequality increases. On the other hand, federal housing benefits to the poor decrease inequality.
Tag Archives: ACTION
Thursday’s Advocacy & Think Tank Round-Up
- Corelogic’s Home Price Index for May 2015, reports that home prices are up 6.3% compared to May of 2014 and with Mortgage rates at around 4% – leading to increased demand – areas with high demand and low supply, such as San Francisco are seeing double digit appreciation. Home prices peaked in April 2006 and are still 8.4% below peak.
- Over 1,000 members of Affordable Rental Housing A.C.T.I.O.N. signed a letter to Congress urging both houses to protect, strengthen and expand the Housing Credit and preserve Housing Bonds as it considers tax reform and tax extenders legislation. Specifically, the letter urges Congress to act quickly to approve a minimum 9 percent Housing Credit rate for new construction and substantial rehabilitation, as well as a minimum 4 percent rate for the acquisition of affordable housing.
- Furman Center’s Data Search Tool – is an online application that provides direct access to New York City data compiled by the NYU Furman Center. Visitors to the site can select from a range of variables to create customized maps, downloadable tables, and track trends over time. Variables include, among many others: Housing costs, mortgage lending, tax delinquencies, housing quality.
