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City of Tulsa and Local Developers Address 'Missing Middle' Housing Shortage with New Initiatives

City of Tulsa and Local Developers Address 'Missing Middle' Housing Shortage with New Initiatives

Cities across the United States, including Tulsa, Oklahoma, are grappling with a significant shortage of affordable, quality housing, particularly in the 'missing middle' — housing options that bridge the gap between single-family homes and large apartment complexes. According to Zillow, there's an estimated national deficit of 4.7 million homes. In response, local developers like Red River Development, founded by brothers Steven and Ryan Watts, are creating luxury rental home communities to cater to a growing demographic of younger professionals transitioning from apartments and empty nesters looking to downsize. These communities are experiencing high occupancy rates, exceeding the average apartment occupancy. The National Low Income Housing Coalition reports an even more acute shortage of 7.2 million affordable rental units for extremely low-income renters. This housing deficit is attributed, in part, to a slowdown in new home construction following the 2008 Great Recession.
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Houston Faces Significant Rental Affordability Crisis Despite Lower Rents Compared to Other Major U.S. Cities

Houston Faces Significant Rental Affordability Crisis Despite Lower Rents Compared to Other Major U.S. Cities

Houston is experiencing a severe rental affordability crisis, with a significant portion of its renters classified as 'cost-burdened,' meaning they spend over 30% of their income on housing. A Kinder Institute analysis of federal estimates for 2024 revealed that Houston had the second-highest share of cost-burdened renters among the 10 largest U.S. cities, with approximately 55% of renters (around 293,000 households) crossing this threshold. This issue persists despite Houston's median rent being lower than many other major cities, including New York City. The problem is exacerbated by lower median household incomes for Houston renters, which fell by $2,600 year-over-year in 2024, while the median rent for a two-bedroom apartment increased by 1.8%. The city's affordable housing policies and government investment are described as modest compared to cities like New York City and Los Angeles, which have rent control ordinances, or Chicago and Philadelphia, which offer substantial financial support for renters...
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American Consumer Institute Report Identifies Housing Costs as Primary Driver of Affordability Concerns

American Consumer Institute Report Identifies Housing Costs as Primary Driver of Affordability Concerns

A new report from the American Consumer Institute for Citizen Research (ACI) indicates that rising housing costs are the main factor behind Americans' affordability worries, rather than a general decline in purchasing power or living standards. The report, titled 'The Role of Housing in the Affordability 'Crisis',' highlights that while inflation-adjusted incomes and purchasing power have generally improved over time, these gains are overshadowed by the increasing costs of essential household expenses, particularly housing. ACI's analysis of consumer spending from 1984 to 2024 revealed an 18% increase in inflation-adjusted average expenditures, with housing accounting for 50% of that growth and healthcare for another 25%. Housing also consumes a larger share of spending across all income groups in 2024 compared to four decades prior. The institute attributes the underlying problem to insufficient housing supply, citing restrictive zoning, density limits, and permitting requirements as factors that hinder c...
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One in Five Americans Consider 'Breaking Up' With Their Homes Due to Financial and Repair Issues

One in Five Americans Consider 'Breaking Up' With Their Homes Due to Financial and Repair Issues

One in Five Americans Consider 'Breaking Up' With Their Homes Due to Financial and Repair Issues
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Los Angeles Implements Collaborative Governance for Affordable Housing and Homelessness Prevention

Los Angeles Implements Collaborative Governance for Affordable Housing and Homelessness Prevention

The City of Los Angeles has established United to House LA (ULA), a new funding stream dedicated to affordable housing production and homelessness prevention, following the approval of a 2022 ballot measure. This measure, drafted by a coalition of over 200 organizations, imposes a real estate transfer tax on properties sold for over $5 million, generating significant revenue for housing programs. A key component of ULA is its collaborative governance system, which includes a Community Oversight Committee (COC) and a Tenant Council. These bodies are designed to ensure that communities most affected by the housing crisis, along with frontline organizations, directly participate in the program's design and oversight. The COC, comprising 15 members appointed by the mayor with diverse expertise and lived experience, holds monthly public meetings to review program details, discuss challenges, and vote on key decisions. The COC also has the authority to develop program guidelines, which are crucial for determinin...
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Chicago Residents Protest Proposed Lakefront Development in Edgewater

Chicago Residents Protest Proposed Lakefront Development in Edgewater

Residents in Chicago's Edgewater neighborhood are protesting a proposed high-rise development along the lakefront, planned for the site of the Emanuel Congregation synagogue. The development, which includes approximately 600 units and a new place of worship, has sparked division within the community. Opponents, led by groups such as Edgewater Residents for Responsible Development and the Association of Sheridan Road Condo and Cooperative Owners, argue that the project would reduce public access to Lake Michigan, violating the 1973 Lakefront Protection Ordinance. They advocate for the city to acquire private property along the lakefront for public park expansion. Supporters of the development, including members of the Emanuel Congregation and the Jewish Council of Urban Affairs, highlight that 20% of the units will be affordable housing and believe the project will enhance the area and preserve beach accessibility. The latest proposal, from July, outlines one five-story building west of Sheridan Road and tw...
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LA Más Secures $200,000 in Community Investments to Combat Housing Speculation in Northeast Los Angeles

LA Más Secures $200,000 in Community Investments to Combat Housing Speculation in Northeast Los Angeles

LA Más, a nonprofit organization in Northeast Los Angeles, has successfully raised $200,000 through direct loans from individual community investors. These investments, made at a minimum of $25,000 per investor with a one-percent interest rate over a five-year term, are unsecured loans directly to the nonprofit and are not tied to buildings as collateral. This initiative is part of LA Más's broader strategy to acquire properties and remove them from the speculative housing market, aiming to preserve affordable housing for working-class residents. The organization recently closed escrow on two neighboring rent-stabilized apartment buildings on Drew Street in Glassell Park, totaling 31 units, which more than doubles its housing portfolio. This acquisition was financed through a complex capital stack that included a joint-venture co-investment from Self-Help, local philanthropic funds, public dollars from the new LA County Affordable Housing Solutions Agency (LACAHSA), and these community investments. LA Más ...
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AI Wealth Intensifies San Francisco Housing Market Competition, Creating 'Mansion Shortage'

AI Wealth Intensifies San Francisco Housing Market Competition, Creating 'Mansion Shortage'

AI Wealth Intensifies San Francisco Housing Market Competition, Creating 'Mansion Shortage'
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Historic 1930s Post Office in Bend, Oregon, Transformed into Boutique Hotel

Historic 1930s Post Office in Bend, Oregon, Transformed into Boutique Hotel

Historic 1930s Post Office in Bend, Oregon, Transformed into Boutique Hotel
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California Awards $10 Million to Boost Factory-Built Housing for Affordability and Climate Resilience

California Awards $10 Million to Boost Factory-Built Housing for Affordability and Climate Resilience

The California Strategic Growth Council (SGC) has allocated $10 million in grant funding to accelerate the development and use of factory-built housing across the state. This funding will support 10 projects in seven regions, including greater Los Angeles, the Bay Area, Sacramento Valley, Sierra Nevada, Inland Desert, North Coast, and San Joaquin Valley. The initiatives range from wildfire recovery efforts and tribal use of climate-resilient hempcrete to workforce housing development and mass-timber strategies. The SGC emphasizes that factory-built housing is a crucial tool for constructing affordable homes more rapidly, while also contributing to California's employment and climate objectives. These homes, built off-site in controlled environments, can incorporate durable, fire-resistant materials and climate-adaptive features, offering a quicker path to recovery for communities affected by disasters and strengthening social connections by enabling families to rebuild on or near their original properties.
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Gen Z Redefines Homeownership, Prioritizing Affordability and Flexibility Over Traditional Large Homes

Gen Z Redefines Homeownership, Prioritizing Affordability and Flexibility Over Traditional Large Homes

Gen Z Redefines Homeownership, Prioritizing Affordability and Flexibility Over Traditional Large Homes
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Cincinnati renters are getting less space in newly-built apartments

Cincinnati renters are getting less space in newly-built apartments

RentCafe reported that Cincinnati continues to build smaller and smaller apartment units. See how much space has been lost.