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Rising Rents

All articles tagged with #rising rents

social-issues2 years ago

Rising Rents and COVID Aid Cuts Drive Record High Homelessness in America

The number of homeless people in the United States has reached a record high, increasing by 12% in the past year, according to the Department of Housing and Urban Development. Rising rents and the end of pandemic aid programs have contributed to the surge, with over 653,000 people experiencing homelessness. The increase is particularly notable among families with children, veterans, and Asian and Hispanic/Latino individuals. Experts attribute the rise to a shortage of affordable housing, high housing costs, and the impact of migrants in many U.S. cities. Housing and Urban Development Secretary Marcia Fudge emphasized the need for urgent support and prevention strategies to address the issue.

via Forbes|
#department-of-housing-and-urban-development#homelessness#pandemic-aid
social-issues2 years ago

"Massive Portuguese Protests Demand Affordable Housing Rights"

Thousands of Portuguese citizens, including the middle class, took to the streets in Lisbon and other major cities to protest for the right to affordable housing. Rising rents, surging home prices, and climbing mortgage rates have made it increasingly difficult for many Portuguese, including the middle class, to afford housing. The protests highlight the need for structural changes to address the housing crisis, which has been exacerbated by factors such as the influx of foreign investors and tourists seeking short-term rentals. Portugal's government has introduced measures, but protesters argue that they fail to address the core issues affecting people's lives.

via Euronews|
#affordable-housing#middle-class#portugal
government2 years ago

"HUD's New Aid Addresses Rising Rents, Supports Low-Income Families"

The Department of Housing and Urban Development (HUD) is increasing aid for low-income families to help them keep up with rising rents. HUD is implementing an average 12% increase in fair market rents for fiscal year 2024, allowing beneficiaries of housing vouchers to afford rentals in more competitive markets. Additionally, HUD will release $113 million in housing choice voucher funds to assist around 9,500 households. The increase in aid aims to address the decline in voucher usage due to insufficient fair market rents. The national average rent has risen by about 5.45% in the past year, but there are signs of softening in some markets. This move comes as President Joe Biden faces low approval ratings for his handling of the economy.

via NBC News|
#aid#government#housing-vouchers
business2 years ago

Iconic Winter Park Restaurant, The Coop, Shutting Its Doors After a Decade

John Rivers' Southern restaurant, The Coop, located in Winter Park, is set to close due to higher rents in the area. The closure was announced on Facebook, with the post mentioning that the current market rates are beyond what the business can afford. This is a growing problem for Orlando restaurants and retailers, as the average rental rates in shopping centers have increased by 4.4% in the first three months of this year. The Coop brand will continue in other venues throughout Orlando, and there is a possibility of opening new restaurant locations in the future.

via Orlando Sentinel|
#business#john-rivers#orlando-restaurants
real-estate2 years ago

Rental Market Frenzy Continues Despite Overall Inflation Slowdown

A shortage of rental properties to match demand from tenants is causing a rise in the cost of renting, according to the Royal Institution of Chartered Surveyors (RICS). The proportion of RICS members reporting growth in demand was at a five-month high in March, with rents expected to rise across the UK, averaging a 4% annual increase. The rental sector is constrained by a lack of homes, with tax and regulations leading many landlords to consider whether to continue or sell up.

via BBC|
#landlords#property-shortage#real-estate
housing-crisis2 years ago

Portugal's Low-Wage Workers Struggle with Housing Crisis.

Rising rents, surging home prices, and climbing mortgage rates are pricing out many people, including the middle class, from Portugal's property market. The problem has been magnified by tourism and an influx of foreign investors who have been driving up prices, forcing locals out of their neighborhoods. Portugal's center-left Socialist government has unveiled a package of measures to address the problem, including forcing the owners of unoccupied properties to rent them out and capping increases in new rental contracts. However, the proposals have stirred controversy, with some seeing them as heavy-handed and misguided.

via The Associated Press|
#affordable-housing#foreign-investors#housing-crisis
housing-crisis2 years ago

Portugal's Low-Wage Workers Struggle with Housing Crisis.

Rising rents, surging home prices, and climbing mortgage rates are pricing out many people, including the middle class, from Portugal's property market. The problem has been magnified by tourism and an influx of foreign investors who have been driving up prices, forcing locals out of their neighborhoods. Portugal's center-left Socialist government has unveiled a package of measures to address the problem, including forcing the owners of unoccupied properties to rent them out, capping increases in new rental contracts, and ending the government's "golden visa" program.

via WOWK 13 News|
#affordable-housing#foreign-investors#housing-crisis