Just this week, the Joint Center for Housing Studies at Harvard released its 2017 report on the nation’s housing. Year after year, this vital report provides the most extensive and complete survey of the US housing markets. It reports on both owned and rental housing markets, giving a glimpse into challenges faced by homeowners and renters alike.
For the typical homeowner, the news is generally positive as US house prices climbed 5.6 percent on average last year. While this is a strong advance in housing values, most homeowners have not retraced what they lost in the financial crash of 2008.
For the typical renter, the story is less positive. For the lowest-income households who are also renters, the cost burdens from their housing have never been higher. According to the authors, 70.3 percent of the lowest-income households face severe housing costs burdens. These burdens appear to be widespread across all corners of the nation.
Another interesting finding is the increase in the share of high-poverty neighborhoods (i.e., neighborhoods with 20 percent or more of their residents living in poverty). The authors report that from 2000 to 2015, the number of such high-poverty neighborhoods rose from 13,400 to more than 21,300. The increase in these neighborhoods is fastest in the metropolitan fringe and rural areas.
This is more evidence of the “suburbanization of poverty” that has taken hold in many metropolitan urban core areas, including the DC metropolitan region. The report confirms the changing socioeconomic dynamics in our own service area. It points to some of the dynamics that we see more and more in our everyday work.
SNAP Judgments: Benefits That Feed the Economy
Welfare programs are often criticized as expensive and unnecessary, a drain on the national budget and potentially the economy. Adults who meet certain low-income criteria receive benefits such as money for food, today known as the Supplemental Nutrition Assistance Program or SNAP program, might not want to look for paid work…[READ MORE]
A Brave New World for Credit Reporting
Many credit reports have erroneously attached liens and civil judgments — the staples of credit reporting — to the wrong person. Often without knowing it, persons with these erroneously reported liens and judgments will see a drop in their credit scores. [READ MORE]
Development Office Update
Join us for Family Bingo Night!
We’re excited to introduce a new family-friendly event into our development calendar this year. We’ll be hosting a family bingo night at the Knights of Columbus on Richmond Highway. The evening will feature a pasta dinner with refreshments (beer and wine will also be available for purchase), plenty of prizes and an exclusive raffle!
Saturday, September 30th, 5-8 pm Knights of Columbus, 8592 Richmond Hwy, Alexandria VA 22309
Our school supply drive is underway. Thanks to your generosity last year, GSH was able to assist 98 youth with backpacks and school supplies. Click the link below to see what items we need for the 2017/2018 school year. [READ MORE]
July 25-Young Professionals Group Kick Off Event
Spread the word! We’re kicking off our Young Professionals Group with a backpack and school supply drive.
Share our mission with your colleagues and neighbors by inviting them on one of our upcoming tours. Our tours start at our office on Richmond Highway and we always provide a light snack. Seeing our work in action helps demonstrate to our community the long-term impact of providing affordable housing.