apartment, Business, landlord, real estate

Housing costs are rising

When Buying A Home Is Too Costly And The Rent Is Too Damn High

by GENE DEMBY

December 10, 2013 8:41 AM

Jimmy McMillan ran for governor of New York State in 2010 as the candidate from the Rent is 2 Damn High party. (Party platform: The rent is too damn high!) The cost of renting a home is swallowing an ever-larger portion of Americans’ incomes.

Kathy Kmonicek/ASSOCIATED PRESS

Back in 1995, more than half of all people of color rented their homes — almost twice the proportion of white renters. Then the Clinton Administration pushed policies to bolster homeownership rates and those numbers began a gradual, decade-long decline. The number of people of color renting fell below 50 percent. This coincided with an increased willingness by lenders to extend credit including to subprime borrowers.

But after the housing market imploded those rental rates began creeping up again across the board as unemployment increased, new credit dried up and banks foreclosed on bad mortgages. Others who previously might have bought homes now feared for their jobs or saw ownership as too much of a risk in a tanking market.

According to a new report from Harvard University’s Joint Center for Housing Studies, a growing number of Americans are currently facing a different kind of housing crunch. Now not only is homeownership out of reach (given lender requirements for larger down payments) but the monthly rent swallows ever-larger portions of their paychecks.

Continue reading: http://www.npr.org/blogs/codeswitch/2013/12/10/249823140/when-buying-a-home-is-too-costly-and-the-rent-is-too-damn-high

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apartment, real estate

Where are building codes when you need them?

Entire New 13-Story Building Tips Over in Shanghai

Entire New 13-Story Building Tips Over in Shanghai

 

This past Saturday, an entire apartment building in Shanghai collapsed. To be fair, the building was under construction and thus unoccupied, but it’s still a minor miracle that there was only one fatality.

Sounds like there was a problem with some nearby flood prevention walls at the Dianpu River, but there’s no hard evidence as to why this huge building simply fell over. Anyway, here are some sweet pictures of the architectural carnage. [Cellar.org via Twitter]

Entire New 13-Story Building Tips Over in ShanghaiSEXPAND

Entire New 13-Story Building Tips Over in ShanghaiSEXPAND

Entire New 13-Story Building Tips Over in Shanghai

Found on Gizmodo.com

http://gizmodo.com/5304233/entire-new-13+story-building-tips-over-in-shanghai/

 
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apartment, Business, landlord, real estate

Rent Control and Eviction Laws

As Rent Soars, Longtime San Francisco Tenants Fight To Stay

December 03, 2013 3:17 AM
In San Francisco, demand for apartments is booming — but for low- and middle-income tenants, this means it's hard to find an affordable place to rent.

In San Francisco, demand for apartments is booming — but for low- and middle-income tenants, this means it’s hard to find an affordable place to rent.

Curtis Fry/Flickr

San Francisco has long been a desirable place to live — and that’s even more true today as the city is basking in the glow of another tech boom. But the influx of new money and new residents is putting a strain on the city’s housing market.

The city has the highest median rent in the nation, and evictions of longtime residents are skyrocketing.

Ground zero for San Francisco’s eviction crisis is the Inner Mission District. Until recently, this edgy neighborhood was home to a mix of working-class Latinos, artists and activists.

Tom Rapp, an airport building maintenance worker, rents a modest second-story flat that he has called home for 15 years. He says a lot of his neighbors have been evicted over the past couple of years. Then bad news came knocking on his door, too.

“We received an eviction notice at the end of August,” he says.

Continue reading: http://www.npr.org/2013/12/03/247531636/as-rent-soars-longtime-san-francisco-tenants-fight-to-stay

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