Federal updates
- President Biden signed the Inflation Reduction Act of 2022 into law last week, finalizing Democrats’ signature legislation with substantial federal investment in climate change and healthcare. The package includes some funding for energy-related housing measures, but excludes much needed direct investments in affordable housing like those that were proposed in Build Back Better. Congress adjourned for August recess shortly after passing the bill and focus on midterm elections is starting to ramp up.
- Earlier this month, HUD released an agenda for economic justice that describes actions the agency plans to take to help renters with low incomes build assets. The agenda, called Bridging the Wealth Gap, focuses on asset building through developing credit, increasing savings, improving access to housing counseling, and increasing homeownership opportunities.
- HUD announced last week that it will make $41 million available for local affordable housing and community development activities that benefit people with low-incomes. The funding is awarded through HUD’s Capacity Building for Affordable Housing and Community Development program, also known as Section 4. Three national organizations, Enterprise Community Partners, Local Initiatives Support Corporation (LISC), and Habitat for Humanity International, will receive the funds. More details on the awards can be found in the press release issued by HUD.
State updates
- Mecklenburg County officials are pushing for federal action on corporate landlords, as the Charlotte area continues to be a hotspot for the industry. Mecklenburg officials recommended that the National Association of Counties adopt a measure pledging to urge federal agencies to research the effects of corporate home purchases on housing markets. The resolution is now on the national group’s federal policy agenda. A second resolution supported by Mecklenberg officials calls for legislation to prevent landlords from discriminating against renters based on their income sources: Mecklenburg officials push for federal review of corporate landlords’ impact | Charlotte Observer
- Durham nonprofits, including the Community Empowerment Fund and Southern Vision Alliance organized a rally over the weekend to advocate for increased affordable housing options in the city. Dozens of demonstrators attended the event with the request that 30% percent of future housing developments in Durham be designed for people making 30% AMI: Residents call out affordable housing crisis. Here’s what they want an NC city to do. | Raleigh N&O
- The Wilson Housing Authority celebrated the opening of a new public housing project, Eatmon Townhomes. The 32 new rental units will replace those lost due to the storms and will allow residents to stay within their community near downtown Wilson. The project was funded by more than $2.7 million in federal disaster recovery funding through the Community Development Program of the N.C. Office of Recovery and Resiliency (NCORR): New Eatmon Townhomes increase affordable housing and community resilience in Wilson, N.C. | NCDPS
- Two affordable housing projects are moving forward in Wake County. The Board of Commissioners approved a leasing partnership for property donated by Wake Tech that will be developed into multi-family affordable housing. The property will have about 235 rental units for families and individuals earning less than 80% of the area’s median income. Commissioners also approved a $1 million loan for Southeast Raleigh Promise to support their development of 27 affordable rental units in Raleigh. The proposed developments will provide one, two and three-bedroom units for households earning 30%, 60% or 80% of the area median income or less. Units will be a mix of single-family homes, accessory dwelling units (ADUs), duplexes and townhomes: Wake Commissioners Advance Multiple Affordable Housing Projects | Wake County
Reports, events, resources
- Housing For America’s Older Adults: Four Problems We Must Address | Harvard Joint Center for Housing Studies
- This Year, Half As Many Black Households Can Afford A Home As Last Year | Harvard Joint Center for Housing Studies
- The Fight Against Evictions Moves to the Courts | Bloomberg City Lab
- Why the Rent Inflation Is So Damn High | The Atlantic
- S. Housing Affordability in June Was the Worst Since 1989 | The Wall Street Journal
- Housing Market Recession Is Here: Home Builders Slash Prices As Buyers Cancel Contracts, Mortgage Rates Rise | Forbes
- As the housing crisis worsens, cities experiment with eviction prevention strategies | Prism
- What the Inflation Reduction Act will mean for North Carolina residents | Raleigh N&O
- Pilot Medicaid program in North Carolina provides free food for participants | The Center Square
- Years later, still no help for some from RebuildNC | WCTI12.com
- ‘It’s really hard to get out.’ Many in Charlotte motels find housing options limited | Charlotte Observer
- Looking for an affordable home in Wake County? Good luck | Tech Wire
- Chapel Hill organizations respond to ongoing affordable housing issues | The Daily Tar Heel
