New Updates on The Edge - 01/14/2014

New on The Edge

In Practice:
Workforce Housing Renovation in Grand Rapids
Baker Lofts in Grand Rapids, Michigan is providing lower-wage service workers with an affordable housing option in the city’s changing downtown. The mixed-use building, adapted from a former furniture factory, includes 87 affordable units. Along with providing proximity to employment, the project is helping to ensure that as the downtown continues to become a more desirable place to live, lower-income residents will not be displaced.

Policy Update:
Aging in Place: Facilitating Choice and Independence
A combination of economic and demographic shifts is creating a growing need for affordable, age appropriate housing for seniors. Although a majority of older adults prefer to age in place, there are challenges and unanswered questions about meeting the needs and preferences of this population. Many organizations are using housing as a platform to develop supportive services that adapt to the needs of seniors, allowing them to remain at home and continue to engage with their communities.

Statistical Reports:
Housing Scorecard December 2013
The December 2013 Scorecard shows continued progress in the housing market across several important indicators. Home values continue to rise, contributing to an increase in homeowners’ equity and a decline in underwater borrowers. Homeowners’ equity is up $3.4 trillion, or 55 percent, since the end of 2011. The national share of mortgages that are underwater fell from 25.2 percent to 13.0 percent from the beginning of 2012 through the third quarter of 2013. The S&P/Case-Shiller 20-City Home Price Index for October posted returns of 13.6 percent over the past 12 months and was up 0.2 percent (not seasonally adjusted) over September, indicating that home values are at the same level as in mid-2004.