PD&R Edge Elist 08/15/2013

New on The Edge

Message from Senior Leadership:
Profiling Metropolitan Areas with the 2011 American Housing Survey
HUD and the U.S. Census Bureau recently released housing profiles for 29 metropolitan areas in the United States. Deputy Assistant Secretary for Economic Affairs Kurt Usowski discusses how this regional information helps uncover housing trends and characteristics in different parts of the country.

Research:
Analysis of Worst Case Housing Needs in 2011
The most recent analysis of trends in worst case housing needs shows continued increases in the number of extremely low-income renters who do not receive government housing assistance and who face significant affordability and/or housing quality challenges.

In Practice:
Mixed-Income Modular Townhomes in Jersey City
Twenty-two new modular townhomes are being completed in Jersey City’s Jackson Hill neighborhood in an effort to promote high-quality homeownership opportunities and spur neighborhood revitalization. The mixed-income, workforce housing units incorporate modular construction methods with an affordable, appealing energy-efficient design.

Policy Update:
Inclusionary Zoning and Mixed-Income Communities
In an effort to address the need for affordable housing and encourage the development of mixed-income communities, hundreds of jurisdictions have adopted inclusionary zoning (IZ) policies that vary greatly in how they are structured. An in-depth look at IZ programs in New York City and Chicago indicates that inclusionary zoning has the potential to produce affordable housing and create socially and economically integrated communities, especially in markets where housing demand is high.

Statistical Reports:
Housing Scorecard July 2013
The July 2013 Housing Scorecard continues to show signs that the housing market is strengthening, as home prices, purchases of new homes, and sales of existing homes continue to show strong annual gains. The annual home price increases over the last several months remain at levels not seen since 2006. Purchases of new homes were up 38 percent from one year ago and are at the highest level in five years. June sales of previously owned homes were up 15.2 percent from June 2012. In addition, newly initiated foreclosures are at their lowest level since December 2005. Officials caution, however, that the overall recovery remains fragile. The Administration's foreclosure mitigation programs continue to benefit millions of homeowners as the housing market recovers from an unprecedented crisis.