#housing-affordability

#housing-affordability

I said it then and I'll say it again now: I love this city. I also think we're at a turning point. Change is hardand inevitable. Our bodies age, jobs shift, no two days look the same. Change can be beautiful when we understand it and frightening when we don't. Saratoga itself is proof: This place was once orchards. Generations before us chose to allow homes, and that choice is why most of usmy family, yourscan live here at all.

I say that as someone who serves on the Real Property Taxation Committee in the State Assembly, as someone who has looked at this system, sought to introduce legislation to augment this system, and yet been told that the scale of this is one where the Assembly, the Senate, Albany in general, is waiting for the vision of the mayor.

For Aislyn and Ali Benjamin, an ADU, a small secondary home on an existing lot, was the most practical way into homeownership. They live near Danville, California - a small city just over an hour east of San Francisco - where the median home sale price was $1.8 million in August, according to Realtor.com. Wanting to stay near their jobs and avoid long-term renting, they built a 1,200-square-foot unit in the backyard of Ali's parents' home in San Ramon, a city next to Danville.

California desert communities like Thousand Palms, Indian Wells, and Del Mar have transformed into year-round luxury destinations attracting affluent buyers from major cities like Los Angeles and Santa Barbara. The surge in demand is driven by a desire for resort-style living combined with modern conveniences, leading to a significant increase in property prices and incomes in these areas. Lifestyle amenities such as golf, tennis, and wellness facilities, along with advanced smart home technology, are major drivers of demand for luxury properties in California desert communities.

Affordability conditions have improved for four straight months, with lower mortgage rates and stronger income growth boosting prospective buyers' purchasing power, said Edward Seiler, MBA's associate vice president of housing economics and executive director of the Research Institute for Housing America. MBA is expecting that moderating home-price appreciation, coupled with lower rates, will continue to ease affordability constraints and help to boost activity in the housing market.

Even though having pets became somewhat of the new craze for Gen Z and millennials who knew they couldn't afford to have human children, that's seemingly become too expensive on top of housing costs. Some people even report staying in a marriage or relationship longer than they wanted because they couldn't afford housing plus a divorce or to live on their own.

Gov. Gavin Newsom answering the Republican redistricting power-grab in Texas with a plan of his own is a powerful example of how Golden State Democrats are standing up to President Trump and firing up their base. But while the partisan fireworks draw attention, California Democrats are also quietly offering a different kind of model for the national party that may prove more meaningful in the long run. They're not just resisting Trump; they're actually governing.

Last year, California had 2.8 million households in all kinds of living arrangements where housing expenses exceeded 50% of their income. That's the largest burdened flock among the states and 14% of the 19.4 million nationwide. California's economic rivals ranked next: Texas and Florida, at 1.7 million. Such cash-strapped households equal 20% of all Californians, the biggest share nationally and well above the 15% U.S. share. Texas was No. 12 at 15% and Florida was No. 3 at 18%.

The replacement level or rate needed to sustain the population is 2.1, a rate the U.S. met roughly two decades ago. The decline reflects broader social and economic shifts, including delayed marriage and parenthood. But economists and demographers cited in a Realtor.com report point to housing costs as a significant factor. Larger homes that can comfortably accommodate multiple children have become increasingly out of reach for many families, Hannah Jones, senior economic research analyst at Realtor.com, said in the report.

John Conlon wants Budget 2026 to offer renters a pathway to home-ownership A Dublin renter had to leave his career in teaching in order to afford renting in the capital. Athlone man John Conlon (30) holds a first-class master's degree in education, a sector that is struggling to maintain its workforce, but has moved into the field of recruitment.

Debt consolidation has emerged as the dominant driver of home equity borrowing and a key theme that loan officers reported 81% of loan officers told HomeLight that they've seen a spike in homeowners borrowing against their equity, with 29% qualifying this as a significant increase and 52% calling it a slight increase. In 2025, 87% of loan officers told HomeLight that debt consolidation was the main reason borrowers accessed their equity through home equity lines of credit (HELOCs).

Last year's presidential election underscored, particularly to Democrats, that the costs of living were a major factor in the outcome. Inflation had increased sharply during Joe Biden's presidency, and voters' angst about rising prices worked against Vice President Kamala Harris' campaign to succeed him in the White House. Not surprisingly, therefore, when the California Legislature opened its 2025 session, its dominant Democrats declared that they would focus on taming the state's notoriously high costs for housing, fuel, utilities and other necessities of modern life.

Take Greenpoint, Brooklyn, where the industrial-meets-artsy vibe used to come with a modest price tag. Since 2020, asking rents there have jumped a jaw-dropping 60-percent. Across the river in Chelsea, it's a similar story. A 54-percent surge has left even six-figure earners sweating their monthly Venmo transfers. Soho, never exactly a bargain, notched a 60-percent rise too, while Tribeca climbed 58-percent. Dumbo's picture-perfect waterfront? Up 49-percent. And Long Island City, where gleaming towers sprouted almost overnight, saw a 47-percent spike.

The U.S. Census Bureau's latest data reveals a modest increase in national median household income in 2024, reaching $81,604. While some states experienced notable income growth, 21 states saw no significant change in real income, hindering purchasing power and homeownership affordability. Rising mortgage costs and insurance premiums were key drivers behind the 3.8% increase in monthly costs for homeowners with a mortgage nationwide. Among the states, Massachusetts, New Jersey, and Maryland boasted the highest median household incomes, with the District of Columbia leading if considered a state. Notably, all state median incomes fell short of the minimum required to buy a typical home.

"We've had our disagreements. But in our conversations, I heard a leader who shares my commitment to a New York where children can grow up safe in their neighborhoods and where opportunity is within reach for every family. I heard a leader who is focused on making New York City affordable - a goal I enthusiastically support," Hochul wrote. "I also shared with him my priorities, making it very clear that our police officers should have every resource to keep our streets and subways safe. I urged him to ensure that there is strong leadership at the helm of the N.Y.P.D. - and he agreed," she said.

Gen-Z are being locked out of home ownership, campaigners have warned, as first-time buyers now face paying up to six times more for a home than their parents. An analysis of rental, property and salary data by The Independent reveals that the average homebuyer in 1995 had to save just a third of their salary 5,000 to put down a deposit, while today's first-time buyers are forking out average deposits nearly twice as high as the average salary.

In 2024, a U.S. Census Bureau survey revealed that a significant portion of U.S. homeowners were subject to either condominium or homeowners association (HOA) fees, with some facing steep monthly charges. The trend of employing HOAs in newly built communities has become prevalent, affecting home affordability as these fees continue to rise. The survey also highlighted the wide variation in fees across states, with some households paying over $500 per month.

Michael Broderick of First Home Scheme is amazed so many people who want to buy a property are unaware of the supports available

At the preliminary elections on Sept. 9, voters will have the opportunity to influence the direction of the city's future by deciding which mayoral and City Council candidates will advance to the general election on Nov. 4. The preliminary election will narrow the field, with the top two candidates in the mayoral race moving forward and eight city council candidates (out of ten) also advancing to the next round.

Every poison has its antidote. The glaring unaffordability of New York City can be confronted by policies that prioritize the needs of working people. The confounding inertia of the Democratic Party can be reversed by bold new progressive leaders. Trump's assault on our freedoms can be resisted by popular movements connected to people where they live. To my view, the mayoral campaign of Zohran Mamdani offers New Yorkers a remarkable, if not unprecedented, opportunity to act on all three of these at once.

Your $45K starting salary looked decent on paper until reality hit. The reality is that's the same $15/hour everyone was making in 2008. And it sucked then. Rent swallows half your paycheck before you even think about groceries. Student loans demand their monthly tribute like a financial overlord. And that emergency fund your parents keep mentioning? Please. This isn't an avocado toast issue. This is a laptop is required to function at work... even apply to work... issue.

Instead, I was sitting in my Iowa City apartment scrolling on my phone. I passed a video of hundreds of people gathered in Memorial Union Terrace for live music, a photo of old friends clinking margaritas at a Mexican restaurant I used to love ... As I saw more posts from my community back in Madison, Wisconsin, I felt a pang - not of jealousy, but something closer to grief.