June 2017

Joint Center for Housing Studies of Harvard University: The State of the Nation's Housing
A decade after the onset of the Great Recession, the national housing market has, by many measures, returned to normal: housing demand, home prices, and construction volumes are all on the rise, and the number of distressed homeowners has fallen sharply. However, high demand and tight supply are pushing up housing costs and adding to concerns about affordability.
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Projections and Implications for Housing a Growing Population: Older Households 2015-2035
By 2035, more than one in five people in the US will be aged 65 and older and one in three households will be headed by someone in that age group. This growth will increase the demand for affordable, accessible housing that is well connected to services far beyond what current supply can meet
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NALHFA Celebrates Infrastructure Week
Why Affordable Housing Infrastructure Matters

It's infrastructure week and across America its #TimeToBuild! Infrastructure week is a national week of education and advocacy that brings together organizations, businesses, local governments, workers, elected leaders, and community members to focus on ournation's infrastructure needs. A piece of the infrastructure puzzle that is often left out is affordable housing.  Affordable housing is a vital component to infrastructure investment, and the construction and preservation of our country's affordable housing stock will strengthen productivity and economic growth, promote economic mobility, and will support job creation and increased incomes. The rest of the story...

May 16, 2017

Texas Housing Construction: From Bust to Robust
By David S. Jones, Senior Editor, Real Estate Center at Texas A&M University
COLLEGE STATION, Tex. (Real Estate Center) – Home construction is ramping up across America, and in no place is that more apparent than in Texas.

“After an anemic start to the year, the number of Texas single-family home construction permits soared 11.5 percent in March to a ten-year high of 10,481,” said Dr. Luis Torres, a research economist with the Real Estate Center at Texas A&M University.

“Texas led the nation in total permits issued and ranked fifth in permits per capita,” he said. “Construction permits increased significantly in the Texas Urban Triangle. The rest of the story...

May 8, 2017

Multifamily Executive: Confronting the Affordable Housing Gap

The solution to easing the affordable housing crunch will come from various sources working together, according to a MultiFamily Executive (MFE) article.

Through a partnership with Freddie Mac Multifamily, MFE is examining the lack of affordable housing in the U.S. The first
piece in a 12-part series begins by examining the key drivers behind the lack of affordable housing and what can be done to ease the crisis. MFE is a sister publication to Affordable Housing Finance.  The rest of the story...

May 02, 2017

Affordable Housing Finance: Trump’s Tax Reform Outline Gets White House to Table
Capitol Hill insiders break down what’s in store for affordable housing industry.

By Christine Serlin

A lot of noise has come out of Washington, D.C., during President Trump’s first 100 days, including the potential for tax reform anda corporate rate reduction, which are causing a hiccup in low-income housing tax credit (LIHTC) equity pricing, and the proposed cuts to the Department of Housing and Urban Development (HUD) budget. The rest of the story...

April 29, 2017

Patenaude Nominated for HUD Deputy Secretary
The housing veteran served as HUD assistant secretary under George W. Bush.
By Donna Kimura
Pamela Hughes Patenaude, who has 30 years of experience in housing and public policy, has been nominated to be deputy secretary of the Department of Housing and Urban Development (HUD). President Donald Trump announced Friday that he would send the nomination to the Senate for confirmation.
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May 03, 2017

Office of the Governor, Greg Abbott: Governor Abbott Appoints Five To Texas Department Of Housing And Community Affairs

Governor Greg Abbott has appointed Paul Braden and Leo Vasquez to the Texas Department of Housing and Community Affairs (TDHCA) for terms set to expire on January 31, 2023. He also reappointed J.B. Goodwin and appointed Sharon Thomason for terms set to expire January 31, 2021 and appointed Asusena Reséndiz for a term set to expire January 31, 2019. TDHCA is responsible for promoting and preserving home ownership, financing the development of affordable rental housing, supporting community and energy assistance programs.The rest of the story...

May 8, 2017
HUD: Beth Van Duyne Named HUD SW Regional Administrator

Will oversee HUD programs in Texas, New Mexico, Oklahoma, Arkansas and Louisiana

FORT WORTH - Former Irving, Texas, Mayor Beth Van Duyne today announced that she is honored to be joining the Trump Administration in serving as the Regional Administrator for the U.S. Department of Housing and Urban Development's Southwest Region. As Regional Administrator, she will work in HUD's Regional Office in Fort Worth, Texas, and oversee HUD programs and operations in the Region's five states of Arkansas, Louisiana, New Mexico, Oklahoma, and Texas. The rest of the story...

May 2, 2017

Is HUD’s Fair Housing Rule Here to Stay?

By Daniel J. McGraw

Fair housing advocates, people who want to see a reversal of the racial segregation prevalent in U.S. cities, and fans of open data have kept a wary eye on the Obama-era Affirmatively Furthering Fair Housing (AFFH) rule, issued by HUD in 2015, since President Donald Trump was elected in November. The rest of the story...

March 8, 2017

CohnReznick: Affordable Housing News & Views

Housing Tax Credit Monitor: 2016 Housing Credit Equity Volume Survey

Based on data collected by CohnReznick from 36 active syndicators and direct investors, we estimate that investors collectively funneled approximately $16 billion of equity into housing credit investments in 2016, making it a record volume year in the history of the housing credit program. Read more about total equity volume, a housing pricing update, and current multi-investor regional and national funds. The rest of the story...

Tax Talk Triggers Pricing Drop for LIHTCs (National Real Estate Investor) 

Potential tax reforms ahead that could reduce corporate tax rates have created a “speedbump” for the low income housing tax credits (LIHTC) market. Investors are lowering bids on price per credit, which has slowed deal flow and sent sponsors scrambling to find alternative solutions to bridge the financing gap.  The LIHTC market is a bit “unsettled” in the wake of the presidential election, adds Beth Mullen, CohnReznick partner and Affordable Housing Industry Practice – National Director. The rest of the story...

Make Room: Advocating for Bold Solutions to End Housing Insecurity
The start of 2017 has brought with it great traction in terms of advocating for more affordable rental housing. As one of the first sponsors of Make Room, a national nonprofit exposing the human suffering and societal costs of the rental housing crisis and advocating for bold solutions that will end housing insecurity, CohnReznick has gotten to see first-hand what the organization is capable of, and we’ve already participated in two events this year.
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Lancaster Pollard: 2017 Housing Outlook: In Uncertain Times, Advocacy is Key
Talk about uncertainty. Over the years, those in the affordable housing industry have dealt with their fair share of uncertainty— in the form of budget shortfalls, continuing resolutions, sequestration and more. As 2017 begins to unfold, however, the aura of uncertainty is perhaps stronger than ever as the prospect of tax reform, drastic budget cuts, infrastructure spending and a retired pediatric surgeon taking over the U.S. Department of Housing and Urban Development (HUD) all loom on the horizon. Fortunately, the affordable housing industry has a lot of friends and advocates in Washington and across the nation. In 2017, it’s going to need them all to step up in a big way. The rest of the story...

March 8, 2017
Novogradac & Company: How Much Might the National Median Income Level Grow in 2017?
Published by Thomas Stagg
In January, the Congressional Budget Office (CBO) updated its 10-year economic projections. The update includes the 2017

consumer price index (CPI) estimate that the U.S. Department of Housing and Urban Development (HUD) will use for calculating the 2017 income limits for affordable rental housing properties that involve HUD and low-income housing tax credit financing. 

The CPI inflation factor HUD will use in calculating the 2017 income limits will be 1.0317. HUD multiplies the 2014 American Community Survey data by the CPI inflation factor to determine area median income.
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March 7, 2017
Novogradac & Company: Affordable Housing Credit Improvement Act Introduced in Senate
Eleven U.S. Senators joined Sens. Maria Cantwell, D-Wash., and Orrin Hatch, R-Utah, to officially introduce the Affordable Housing Credit Improvement Act of 2017 today. Sens. Susan Collins, R-Maine, and Michael Bennet, D-Colo., joined as original cosponsors the bipartisan group announced Monday–Sens. Cantwell, Hatch, Ron Wyden, D-Ore., Charles Schumer, D-N.Y., Cory Booker, D-N.J., Dean Heller, R-Nev., Patrick Leahy, D-Vt., Jeff Merkley, D-Ore., Lisa Murkowski, R-Alaska, Brian Schatz, D-Hawaii, and Todd Young, R-Ind. The legislation follows the release by Cantwell’s office of a report, “Meeting the Challenges of the Growing Affordable Housing Crisis,” which highlights the impact on affordable housing of the record increase of 9 million renters in the past decade, relatively low rental housing construction, the removal of 13 percent of existing affordable housing homes since 2001 and stagnant wages.

March 3, 2017
Novogradac & Company: Millennials in the Context of LIHTC

Published by H. Blair Kincer
A Jan. 23 New York Times article entitled, “Peak Millennial? Cities Can’t Assume a Continued Boost from the Young,” noted that the cresting wave of Millennial migration to center cities that had fuelled a rental boom in many American downtowns. Regardless of whether this trend is due to rising incomes, younger households getting priced out of central neighborhoods, or the outmigration of young families, the trend will shape the future of center cities. And importantly for the affordable rental housing community, this trend will have significance for low-income housing tax credit (LIHTC) properties.
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February 28, 2017
Novogradac & Company: IRS Notice Means Slight Increase for Many States’ LIHTC, Bond Caps
Published by Michael Novogradac
The nation’s population grew by 0.7 percent during the year that ended July 1, 2016 and that means the 2017 low-income housing tax credit (LIHTC) ceiling and tax-exempt private activity bond cap for many states will increase. The 0.7 percent growth follows two consecutive years of 0.8 percent growth.

IRS Notice 2017-19  lists 2017 calendar-year resident population figures, which determine the state ceilings. Under Rev. Proc. 2016-55, each state’s 2017 LIHTC ceiling is the greater of $2.35 multiplied by the state population or $2.71 million. Each state’s tax-exempt bond volume cap is the greater of $100 multiplied by the state population or $305,315,000.
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February 2, 2017

ATTOM Data Solutions: Buying More Affordable Than Renting in 66 Percent of U.S. Housing Markets
Rents and Home Prices Rising Faster than Wages in Majority of Markets; Counties in San Francisco, DC, Key West, Hawaii

Top Least Affordable Rental Markets; Rents Rising Faster Than Home Prices in San Diego, Orange County, Dallas, San Jose

IRVINE, CA--(Marketwired - January 05, 2017) - ATTOM Data Solutions, curator of the nation's largest fused property database, today released its 2017 Rental Affordability Report, which shows that buying a home is more affordable than renting in 66 percent of U.S. housing markets analyzed for the report.

The analysis incorporated recently released fair market rent data for 2017 from the U.S. Department of Housing and Urban Development, wage data from the Bureau of Labor Statistics along with public record sales deed data from RealtyTrac in 540 counties with at least 900 home sales in 2016 (see full methodology below).
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February 2017
Bipartisan Policy Center: Forging an Enduring Bipartisan Consensus on Affordable Rental Housing

Articles of Interest

Texas Association of Local Housing Finance Agencies