Black Homeownership falls to new low as housing affordability worsens
Affordable housing is growing as a major issue across the US, partially due to a lack of workforce housing, and partially due to zoning restrictions which restrict smaller lots or higher density. Mobile Home Communities, once a fixture of affordability in most communities, are near-impossible to develop and I’ve heard from multiple sources that a new mobile home community hasn’t been developed in the southeast in the last 15 years.
“The gap is growing, in part because renters across the U.S. face a shortage of properties they can afford to buy as starter-home prices soar, year after year. In the second quarter, the homeownership rate for all Americans fell to the lowest since 2017, and the number of new homeowner households grew by only 585,000, a third of the year-earlier level and the fewest since 2006.”
Question: What’s your experience with affordable housing? Or have you had zoning challenges to an affordable or dense project you wanted to develop?