WBUR Report – Housing in Boston Less Affordable Than Ever – October 26, 2009

by | Jun 20, 2011 | Housing News

WBUR

“Report: Housing In Boston Less Affordable Than Ever”

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Barry Bluestone, dean of Public Policy and Urban Affairs at Northeastern University and co-author of the Boston Foundation’s 2009 housing report card which was released Monday, reveals that a spike in foreclosures has driven up demand for rental housing and pushed up prices. Rents were up 11 percent this spring compared to the second quarter of 2005.

Here are some other facts from the report:

  • Boston rents are now the second highest in the country, after San Francisco.
  • Bluestone predicts it will be another four to five years until prices return to those of 2005.
  • “The Third Civil War’s going to be what regions of the country, what metro areas, what states can retain and attract young people,” Bluestone said. “Housing costs (and) rents are going to be a critical decision in where people decide to move, where people decide to remain. If we can’t solve our housing price and rent problems in the future, we’re going to lose that civil war.”

Bluestone recommends expanding voucher programs to help people pay the rent and advocates federal legislation that would allow new homebuyers to purchase home insurance from the federal government.

Governor Patrick Awards $45.5 Million to Jump-Start Housing Tax Credit Developments – August 18, 2009

by | Jun 20, 2011 | Housing News

BOSTON – Tuesday, August 18, 2009 – As part of his Massachusetts Recovery Plan to secure the state’s economic future, Governor Deval Patrick today announced the state will target $45.5 million in federal recovery funds to help jump start delayed affordable housing developments throughout Massachusetts and create hundreds of jobs.

Please click here for the entire press release.

Funding Shortfalls Cause Cut is Section 8 Vouchers (CBPP) – September 18, 2009

by | Jun 20, 2011 | Housing News

As a result of a shortfall in funding for the Housing Choice Voucher Program for calendar year 2009, an estimated 400 state and local housing agencies across the country will be forced to reduce or eliminate rental assistance for a significant number of the 500,000 low-income families they serve.

Please click here for the full article from the Center on Budget and Policy Priorities.

Mass Economy Expected to Grow in Third Quarter (MassBenchmarks) – July 31, 2009

by | Jun 20, 2011 | Housing News

Economic activity in Massachusetts is estimated to have declined at a 1.6 percent annualized rate in the second quarter of 2009, according to the MassBenchmarks Current Economic Index. The U.S. Bureau of Economic Analysis reported today that the national economy declined at an estimated annual rate of 1.0 percent during the same period. In the first quarter of this year, the state economy declined at a 4.0 percent rate, as compared to a 5.5 percent rate of decline for the U.S.

Click here to read the full story.