February 23, 2023

A record number of multifamily housing projects are under construction (the most since 1974), but it’s still not enough. Apartment projects are struggling to wrap up because of supply chain issues and long-standing labor shortages, causing a backlog and preventing supply from catching up with demand.  

A new study found that homes in flood-prone areas are overvalued by $121 billion to $237 billion. The US housing market has yet to take flood risks into account, and if these unacknowledged risks are realized, millions of homeowners could be stuck with properties that are literally and financially underwater.

In East Buffalo, New York, a mass shooting at a grocery store closed the community’s only supermarket for two months last year. “The May 14 massacre highlighted a lot of issues and illnesses of our society. Affordable housing can and should address challenges for food insecurity,” said Stephanie Simeon, executive director of Heart of the City Neighborhoods. The nonprofit will focus on addressing the link between affordable housing and solutions for food insecurity.

In 2019, Houston’s community land trust (CLT) was applauded for its ambitious goal of creating 1,100 affordable homes within five years. But currently, the CLT has just 136 homes in its portfolio, and city leaders have moved to cut its funding in half. The redirected funds will go to housing projects that serve a broader range of people. Critics blame the city for not properly supporting the CLT and claim the new housing goals don’t prioritize long-term affordability.