guest blog by Deborah Goonan
Members of a recent Urban Land Institute (ULI) panel are reporting high demand for urban housing, both within existing city cores and in densely populated “instant cities” (HOAs), created by developers in suburban locations near mass transit.
The attached article highlights how the major players in American housing policy and the real estate industry are not all on the same page.
Housing policy makers still push home ownership as the endgame, while NAR and CAI lobby Congress to pass FHFA proposals to relax mortgage standards. Meanwhile, developers and investors are shying away from less profitable, more risky condominiums, and engaging in new construction and redevelopment for the rental market.
Housing is becoming less affordable, across the board, as cities become more and more gentrified. If left unchecked, the majority of Americans will left with few housing choices: rent for the long-term in an apartment community, or buy or rent a single family home in a private, corporate-governed HOA.