New Updates on The Edge - 01/27/2015

New on The Edge

Message from PD&R Leadership:
A Continued Economic Recovery Depends on Access to Credit
Although the economy is showing signs of recovery through increases in GDP and decreases in the unemployment rate, the housing sector is still lagging compared to earlier economic recoveries. Deputy Assistant Secretary for Economic Affairs Kurt Usowski discusses how the limited availability and elevated cost of credit impact the percentage of first-time homebuyers in the market, and he highlights a new FHA policy that aims to reduce expenses for new homebuyers.

Research:
How Neighborhoods Matter for Latino and African-American Children
Although neighborhood conditions can affect economic, social, educational, and health outcomes for children, researchers have struggled to determine precisely how and what neighborhood characteristics impact children's well-being. A research study recently published by HUD uses a rare natural experiment to explore how neighborhoods expand or limit opportunities for low-income children.

In Practice:
Addressing the Affordable Housing Need in Maui
In early 2014, Imi Ikena Housing Partners and EAH Housing opened the Imi Ikena Apartments in Wailuku, Hawaii. The 28-unit affordable housing development, funded by state and local financing programs, helped address a growing demand in Maui County. As evidence of this demand, all of the units were occupied within 10 days of opening and over 500 households were placed on a waiting list.

Trending:
Advancing Toward High-Performance Homes and Communities
The National Institute of Building Sciences has been tackling important issues and bringing together the public and private sectors to advance the quality and performance of our nation's building stock since it was established by Congress in 1974. Much of the Institute's work has focused on the design, construction, and operations of structures. However, the Institute is expanding its scope to examine cost-effective disaster mitigation programs and high-performance residential structures, and to promote collaborative efforts that advance the adoption and enforcement of codes.

Policy Update:
Housing's and Neighborhoods' Role in Shaping Children's Future
A wide array of research has linked various dimensions of housing — such as quality (the physical condition and safety of the home), crowding, affordability, housing assistance, ownership, and stability — to children's development and well-being. While researchers further explore how housing and neighborhoods matter for families and children, policymakers are using this knowledge to focus on making housing and neighborhoods places of opportunity.

Spotlight on PD&R Data:
U.S. Housing Market Conditions
PD&R's U.S. Housing Market Conditions (USHMC) website contains national, regional, state, metropolitan, and local data and analysis in one location. Featured USHMC charts highlight trends in the National Association of Realtors' composite and fixed-rate Housing Affordability Indices.