Signs of a Turnaround in the U.S. Housing Market: Harvard Joint Center Releases The State of the Nation's Housing 2012
Housing markets are showing signs of reviving, concludes The State of the Nation's Housing report released recently by the Joint Center for Housing Studies of Harvard University. "While still in the early innings of a housing recovery, rental markets have turned the corner, home sales are strengthening, and a floor is beginning to form under home prices," says Eric S. Belsky, Managing Director of the Joint Center for Housing Studies. "With new home inventories at record lows, unless the broader economy goes into a tailspin, stronger sales should further stabilize prices and pave the way for a pickup in single-family housing construction over the course of 2012." Click here for the full report.
Rental markets are on the mend thanks to sharp drops in construction and an increase of over 4.4 million renters since 2005. Rental vacancy rates are falling, rents are increasing, and multifamily construction is up solidly. In contrast, the nation's homeownership rate continues to slide.
VHDA and VHC Recognize the Top 40 Under 40 In Affordable Housing
Leadership conversations often lament the graying of the affordable housing industry, wondering from where the next generation of leadership will emerge. A visit to the recent Virginia Housing Coalition Annual Awards Dinner offered a hopeful answer. Celebrating the Virginia Housing Development Authority's 40th Anniversary, VHC partnered to recognize achievements of young leaders in the affordable housing industry who are making a difference across the Commonwealth.
Representing non-profit and for-profit organizations, finance institutions, government and housing authorities, the Top 40 Under 40 were selected from nominations of peers and were rated on their work experience, performance in their fields and contributions to their communities.
VHDA will continue to engage with the Top 40 awardees throughout this year with leadership training and activities at the Governor's Housing Conference.
For a complete list of the Top 40 Under 40, click here.
Housing Policy and Housing Trust Fund Design Forums In July and August
The Virginia Housing Coalition and the Virginia Coalition to End Homelessness in partnership with the Virginia Department of Housing and Community Development are holding six regional information and input sessions this summer. The meetings are open to anyone with an interest in affordable housing and homelessness who wants to have a say in the future housing policies in the state.
The sessions will include a summary of the outcomes of housing and community development legislation during the 2012 General Assembly session, in addition to an update on the status of the State Housing Policy Framework and the State Homelessness Plan. Additional discussions will focus on housing issues for the 2013 General Assembly session and invite input into the design of the newly created Virginia Housing Trust Fund. The Department of Housing and Community Development must submit a program plan to the Senate Finance and House Appropriations Committees by November of this year. Read More...