In the News

Friday, July 29, 2016, 9AM-10AM
Franklin Park Estates • 2631-2647 NW 9th Street, Fort Lauderdale
(just north of Franklin Park Community Center)

Join the Housing Finance Authority of Broward County and the Broward County Housing Finance and Community Redevelopment Division at the Ribbon Cutting for 18 new single family homes in the unincorporated neighborhood of Franklin Park Estates.

 

These new homes are made possible through a U.S. Department of Housing and Urban Development CDBG-DRI grant (Community Development Block Grant-Disaster Recovery Initiative), the Housing Finance Authority of Broward County, and the Broward County Housing Finance and Community Redevelopment Division.


 

Increasing Access to Sustainable Mortgages for Low-Income Borrowers

Source: U.S. Department of Housing and Urban Development (HUD)

Homeownership continues to be an important avenue for building wealth in the United States, particularly among low-income and minority households. With safe and sustainable mortgages, homeowners can stabilize their monthly housing costs, build equity, and accumulate wealth over the long term through automatic savings associated with self-amortizing loans.1 Following the foreclosure crisis, access to affordable home loans has been extremely limited for lower-income borrowers with less-than-pristine credit (see “Pressing Challenges in Housing Finance: Credit Access and Seniors’ Mortgage Debt”). Although traditional lenders have tightened lending standards and restricted credit access, mission-driven entities such as community development financial institutions (CDFIs) and state housing finance agencies have long helped nontraditional borrowers and others underserved by the mainstream mortgage market.  More...


 

Report: State of the Cities 2016

The National League of Cities released its 2016 State of the Cities report, a summary of talking points from US city mayors' speeches throughout the past year. Forty percent of mayors' speeches focused on housing; they disucssed housing affordability, workforce housing, homelessness and effects of blight related to the housing market crash. More...


 

Diverted Homeowners Fueled Rental Affordability Crisis

Source: How Housing Matters

Millions of would-be homebuyers were “diverted” into the rental market as a result of the Great Recession, adding huge unexpected new rental demand to what was already forecast to come from the millennial generation’s transition to adulthood, according to new research by Dowell Myers, Gary Painter, Hyojung Lee, and JungHo Park of the Sol Price School of Public Policy at the University of Southern California. The research, published by the Mortgage Bankers Association’s Research Institute for Housing America, finds that more than 5 million otherwise expected renters left or never entered the housing market, “their growth displaced by the diverted homeowners and diminishing overall household growth far below expectations.”  More...


 

Study Finds Little Evidence of LIHTC Impact on Neighborhood Mobility

Source: National Low Income Housing Coalition

A new working paper released by the U.S. Census Bureau’s Center for Administrative Records Research and Applications titled The Effect of Low-Income Housing on Neighborhood Mobility: Evidence from Linked Micro-Data assesses the impact of Low Income Housing Tax Credit (LIHTC) developments on neighborhood mobility patterns. The authors find little evidence that LIHTC construction impacts neighborhood mobility patterns, or that it significantly changes the composition of neighborhoods. The study is the first to examine the causal relationship between subsidized housing and neighborhood choice on a national scale. More...



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