Housing Call: August 29, 2023 – North Carolina Housing Coalition

Guest Speaker:

Logan Rockefeller Harris, Research Manager at NC Budget & Tax Center

Federal Updates

Worst Case Housing Needs: 2023 Report to Congress – Executive Summary | HUD

HUD released its Worst Case Housing Needs 2023 Report To Congress Executive Summary. The full report is expected to be released in September. If you want to dive deeper, Bloomberg published a piece contextualizing opposing trends in housing stability and homelessness. We’re also including a link to HUD’s detailed explanation of the data, which the Bloomberg article cites. In sum, pandemic-era housing assistance and eviction moratoria policies kept Americans housed despite rising housing costs. Now that most of those programs have dried up, homelessness and housing stability are increasing again.

State Updates

New NC law cracks down on ‘deceptive’ real estate deals | Governor Cooper signed HB 422 into law last week. The Unfair Real Estate Agreements Act seeks to prevent predatory companies from locking homeowners into lengthy “Right to List” contracts that offer homeowners quick cash in exchange for a 40-year agreement for the right to be their real estate agent if they sell their home.

North Carolina to Gain More Than $973 Million in Affordable Housing Development | NCHFA

Earlier this month, the NC Federal Tax Reform Allocation Committee approved the NC Housing Finance Agency’s recommendations for 52 tax credit and bond projects. These awards will support the construction of more than $973M in affordable apartments in 29 of NC’s counties. Further, the work is expected to support almost 16K jobs and generate $47M in state and local tax revenue.

Local Community Updates

Thousands of CMS students facing homelessness | Charlotte-Mecklenburg Housing & Homelessness Dashboard

Charlotte-Mecklenburg Schools noted in a recent article that they experienced a 15% jump in the number of students experiencing homelessness from the 2021-22 school year to 2022-23. At the close of the 2023 school year, the school system was aware of 4,815 students experiencing homelessness.

Durham pushes vote on new development rules to after the election during chaotic meeting | Raleigh News & Observer

The City of Durham will delay a vote on the contentious SCAD (Simplifying Codes for Affordable Development) amendment until November 20 (Thanksgiving week). The hearing and vote was scheduled for last Monday, but the developer asked for and was granted a 90-day delay. This means that a vote will not take place until after the election, where the mayor and 3 city council positions will be up for a vote. SCAD is a privately initiated text amendment that loosens development regulations, purportedly to ease the pathway for developers to build more affordable housing. The proposal has drawn criticism, with local leaders and community members concerned that it would relax regulatory compliances in a way that worsens gentrification and displacement.

New online map launched as catch-all tool for affordable housing resources in Cape Fear Area | WWAY

The Cape Fear Housing Coalition, Cape Fear Collective, and EcoMap Technologies recently released the Cape Fear Housing Map, an interactive online tool that helps individuals and organizations connect with housing resources across the area, including funding opportunities, programs, and units. View the Housing Map here.

Other Reports & Resources

Rising Interest Rates Put the Brakes on the Mortgage Market for Borrowers with Low Incomes | Urban Institute

Mapping Neighborhoods with the Highest Risk of Housing Instability and Homelessness | Urban Institute

How the Property tax system harms Black homeowners and widens the racial wealth gap | Brookings Institute

Events

[webinar] Housing for Health Panel Series: Preservation | Enterprise Community Partners & Kaiser Permanente, 9/7, 11-12:30 ET
[in-person] Mentorship Meetup | NCWAHN, Wednesday, 9/13, 5:30 – 7:30pm at Fortnight Brewery (Cary)
- Join NCWAHN in a session of speed-meetings between prospective mentors and mentees to connect with someone in the affordable housing industry. RSVP is available through the link in the call notes.