New Forest Business News’ Post

https://buff.ly/47bafJ3 The funding should generate around 4,000 new units of affordable housing in the state, but much more work is needed to fully address the housing crisis

Charles Marohn and Strong Towns 🎯🎯🎯 with this latest piece "We have to move beyond the narrow, almost futile task of making affordable housing and start working on the broader and more meaningful effort of making housing affordable. The term “housing trap” is a way to explain the financialized craziness that makes housing prices more responsive to macroeconomic capital flows than local supply and demand dynamics. The reason housing prices are crazy everywhere at the same time isn’t because every local market has the same supply constraints. Supply constraints exist in many markets, sure, but the story of housing affordability is primarily a financial one. We financialized the housing market for expedient, even righteous, reasons. The consequence of this approach is that today's housing acts more like a financial product than a shelter for a family." https://lnkd.in/g-FvmADp #housing #realestatedevelopment #realestatefinance #urbanplanning #cityfinance #affordablehousing

A great way to put it! Our metrics should be focused on “to what extent can people of all income levels afford decent housing,” not “how many units of Affordable Housing (meaning subsidized housing) did we build?” Subsidizing housing is *one means* to helping people afford housing. But it’s not *the end*. And ultimately, if the problem gets better, we’re succeeding. But if it continues to get worse, we’re failing - irrespective of how much money we pour into it.

🚨News Flash 🚨 The United Counties of Prescott and Russell are paving the way for more affordable housing! A new initiative has been announced to address the housing crisis by significantly increasing the availability of affordable homes in the region. This move aims to support low to moderate-income families and improve the overall quality of life in Eastern Ontario. For a detailed overview of this vital housing strategy, read the full article at: https://smpl.is/91x5a

Market Failure - The time to act is now - Affordable Housing delivery. This reinforces again what we have also heard from DHA Planning Group Matthew Woodhead Nick Fenton: https://lnkd.in/eP9R3e5k The long-term solution is to fix the RP’s broken balance sheets and invest in Local Authority capacity. However, in the short term, MHCLG needs to intervene by enabling Homes England to permit the use of the Affordable Homes Programme grant on S106 affordable housing homes, to respond to the current "Market Failure". The 'How, Not If' - Ask for MHCLG is: It is proposed that grant should be made available on the affordable housing provision required by S106 requirements on all schemes <75 homes, this will give confidence to SMEs working with RPs to build out early, thereby accelerating site delivery and responding to developer concerns on absorption rates. The grant could be time-limited and available to both Strategic Partners and bids via continuous market engagement. Without such support, a significant proportion of potential affordable housing supply will be delayed or simply not built. It is also proposed that on larger sites if developers are overperforming by >30% on the S106 affordable housing requirement that Homes England grant should be available on all the affordable homes including the S106 requirements and additionality. This we believe will improve the viability and again provide the impetus for the accelerated delivery of otherwise stalled or viability-constrained developments, negating the all-to-regular reduction or removal of affordable housing or other essential local infrastructure from these developments. Nick Fenton Matthew Woodhead Jonathan Buckwell Alex Hicken

Want to learn more about the need for affordable housing throughout the country? Read The State of the Nation's Housing in 2024 report here: https://lnkd.in/eFXDcYbn

Here's some information regarding a recent Texas bill making it easier for prospective tenants to find affordable housing. HB 5255 proposes that a yearly survey be conducted of all affordable housing options in Texas municipalities. The bill requires that local state governments implement and carry out a protocol for generating and updating detailed information about low income housing. Currently, the information provided on the Texas DHHS website is extremely broad and general, so this bill will be very helpful for agencies and individuals in need of resources. https://lnkd.in/ghq3UtKf https://lnkd.in/gFJZ6ZdA

Building more homes is the central pillar of Labour's new housing strategy - but will it deliver the change we need to address the housing crisis? 🏡 Take a look at our latest blog by Kate Benson to see our analysis 👇https://lnkd.in/eR4rC8rB

In her latest column for Housing Today, Geeta Nanda OBE calls for immediate steps to lay the foundations of a long-term plan for housing and help to begin tackling the housing crisis. You can read her column here: https://lnkd.in/eb2GxAnn

How does the housing shortage impact your area? Up for Growth's new Housing Underproduction report breaks it down by state and housing market, with data and solutions tailored to each unique challenge. Many markets have local affordable programs that come with their own unique compliance requirements - which is where Pronto Housing can help. Check it out to see what’s happening in your community!