News and Resources

First-Time Home Buyer Resource Part 2: Navigating the Market as a First-Time Buyer

Purchasing a home is the largest financial transaction most Americans will make, and often the most fiscally rewarding. Once you decide buying a home is the right investment for you and your future, it’s time…

First-Time Home Buyer Resource Part 2: Navigating the Market as a First-Time Buyer

By: American Property Owners Alliance Apr 10, 2020

Apr 10

2020

[rsnippet id="39" name="First Time Home Buyers Resource"] Purchasing a home is the largest financial transaction most Americans will make, and often the most fiscally rewarding. Once you decide buying a home is the right investment for you and your future, it’s time to dive into the home search to find a property that meets your needs. Navigating today’s ever-changing housing market can seem daunting, especially for first-time buyers. However, with the right tools and resources, getting the keys to your first home can feel much more manageable. The Alliance has created part two of the First-Time Home Buyer Resource to help buyers embark on their home search, set a budget and understand the process of making an offer on their first home.

Access expert insights, learn about the value of a buyer’s agent and take advantage of the resources available to you as you start your homebuying journey by downloading our home buyer guide below.

Access the First-Time Home Buyer Resource Part 2

Thinking about buying your first home, but don’t know where to start? Learn more about the first steps in the home buying journey and the various programs available for new buyers in The Alliance’s First-Time Home Buyer Resource: Part 1.

A Big Change in Housing Transactions: Everything You Need To Know

By: American Property Owners Alliance Apr 10, 2020

Apr 10

2020

In March, the National Association of REALTORS® (NAR) came to a settlement agreement that would resolve litigation brought on behalf of home sellers related to broker commissions. The agreement, which is pending court approval, is expected to bring some changes to housing transactions. What are the changes and when will they take effect? Traditionally, sellers have paid a commission on the sale price of their home to their listing agent, who would make an offer of compensation to the buyer broker who brought the buyer who purchased the home. These offers of compensation have customarily been visible to real estate agents on a Multiple Listing Service (MLS), the databases where agents list homes for sale. As part of the proposed settlement, NAR has agreed to implement a rule that would prohibit offers of compensation on an MLS. Offers of buyer agent compensation would continue to be an option for consumers to pursue off the MLS. Additionally, buyers will need to enter into a written agreement with their agent that outlines exactly what services and value their agents provide, and for how much. These changes are expected to take effect in late July. How will real estate agents be paid? Real estate agents will continue to negotiate payment directly with their clients. Payment may not necessarily be percentage-based – buyer’s agents may be paid a flat fee or at an hourly rate. It is possible that some buyers may end up paying their agents out of pocket in addition to their downpayment and closing costs. As of now, buyers cannot include an agent fee in their mortgage or financing of their home. How will the settlement impact home prices? Because both buyer’s and seller’s agent commission fees had traditionally been factored into the price of a home, many are anticipating a decrease in home prices as a result of these pending changes to the agent payment structure. However, despite this speculation that home prices will drop if NAR’s settlement is approved, it is not guaranteed that the agreement will result in lower prices for those looking to enter the market. Several other contributing factors - such as low inventory, increasing demand and fluctuating mortgage rates - continue to create roadblocks for prospective buyers and fuel the nation’s housing affordability crisis. The full impact of NAR’s settlement remains unclear when it comes to home prices and how agents will be paid. The Alliance will continue to provide the latest news and resources as the situation progresses. Follow us on Twitter (X), Facebook and LinkedIn to stay informed on the latest housing industry news and updates. [rsnippet id="41" name="About APOA and Join Us - Property Ownership"]

U.S. Government Passes Spending Bill to Fund Several Key Housing Programs, But the Threat of a Partial Shutdown Remains

The National Flood Insurance Program will lose funding if Congress cannot approve a budget to keep remaining government agencies open by March 22. On Friday evening, Congress approved a $460 billion spending package to fund…

U.S. Government Passes Spending Bill to Fund Several Key Housing Programs, But the Threat of a Partial Shutdown Remains

By: American Property Owners Alliance Mar 11, 2020

Mar 11

2020

The National Flood Insurance Program will lose funding if Congress cannot approve a budget to keep remaining government agencies open by March 22.

On Friday evening, Congress approved a $460 billion spending package to fund many federal agencies and programs. With these new appropriations bills, key housing programs under the departments of Housing and Urban Development and Veterans Affairs have secured funding through the end of the year. Now, the government must negotiate a second spending bill to ensure all federal agencies are funded ahead of the March 22 deadline. If Congress fails to come to a budget conclusion, the Federal Emergency Management Agency’s National Flood Insurance Program (NFIP) will be impacted. The NFIP will continue to pay out valid claims until funding depletes, but if the program runs out of funds before Congress can come to a spending conclusion, no new policies can be written and existing policies cannot be renewed. Currently, the NFIP is funded through March 22. Home sales in some areas could be impacted by an NFIP authorization lapse, as many mortgage companies will not approve loans without flood coverage. But even though the NFIP is the most commonly used flood insurance program, homeowners and future buyers may have other options; private flood insurance companies also offer coverage that would not be impacted by a government shutdown. Learn more about private flood insurance options here. [rsnippet id="12" name="About APOA and Sign Up for Updates"]

Once Again, A Looming Government Shutdown Could Halt Access to Housing Resources

Everything you need to know about how a government shutdown would impact homeowners and buyers if lawmakers cannot come to a federal-spending conclusion by new March deadlines. What is a government shutdown? Once again,…

Once Again, A Looming Government Shutdown Could Halt Access to Housing Resources

By: American Property Owners Alliance Mar 01, 2020

Mar 01

2020

Everything you need to know about how a government shutdown would impact homeowners and buyers if lawmakers cannot come to a federal-spending conclusion by new March deadlines.

What is a government shutdown? Once again, Congress was able to narrowly avoid a government shutdown by approving a temporary funding bill to keep U.S. government agencies open, shifting new deadline dates to March 8 and March 22. This “continuing resolution” will fund the Departments of Transportation, Agriculture, Housing and Urban Development, and Veterans Affairs, until March 8. Other federal agencies will receive funding until March 22. Before these deadlines, the U.S. federal government must pass appropriations bills to fund government operations for the next fiscal year. If lawmakers cannot pass the 12 appropriation bills needed to fund the government before these new deadlines, federal agencies must stop all non-essential functions until Congress acts, which is known as a government shutdown. If Congress passes some of the appropriations bills, only agencies without appropriations must shut down which is known as a partial shutdown. A government shutdown impacts federal programs that homeowners and buyers rely on. With the possibility of a full or partial shutdown in the coming months, we’ve compiled a list of potential impacts on federal loans and insurance, with resources to help you navigate a shutdown should it occur. Federally Backed Mortgages About half of today’s mortgages are federally backed, many of which are utilized by low-income and first-time home buyers. Each federal lender has historically been impacted by government shutdowns differently: U.S. Department of Housing and Urban Development: Federal Housing Administration and Ginnie Mae The Federal Housing Administration will continue to insure single-family loans (except reverse mortgages and Title 1 loans) during a government shutdown. Loan processing times could be delayed due to agency staffing limitations as a result of a shutdown. More information on the U.S. Department of Housing and Urban Development’s processes during a government shutdown can be found here. Ginnie Mae will also continue to operate during a government shutdown, however staffing limitations may cause delays in response times. Click here for frequently asked questions regarding Ginnie Mae’s functions during a federal funding lapse. U.S. Department of Housing and Urban Development Services The U.S. Department of Housing and Urban Development’s Headquarters, regional and field offices will close for the duration of a government shutdown, with limited staff available to answer questions or concerns. In the event of an emergency, state or city housing offices can often provide referrals to local providers. Click here for more information. Currently, the U.S. Department of Housing and Urban Development is funded through March 8. U.S. Department of Agriculture The U.S. Department of Agriculture (USDA) does not issue new loans or grants during government shutdowns. Although lenders may close loans with outstanding commitments, the USDA cannot guarantee these loans until employees return to work. Click here for more information on the USDA’s operational procedures during a federal funding lapse. Currently, the U.S. Department of Agriculture is funded through March 8. Department of Veteran Affairs The Department of Veteran Affairs continues to process VA loans during government shutdowns. This means your loan application or payout should not be impacted by a government shutdown. More information can be found here. Currently, the Department of Veteran Affairs is funded through March 8. National Flood Insurance The Federal Emergency Management Agency (FEMA) recently announced that its National Flood Insurance Program (NFIP) will not be able to issue new policies if it’s authorization lapses as a result of a government shutdown. The NFIP will continue to pay out valid claims until funding depletes, but if the program runs out of funds before new legislation is agreed upon, no new policies can be written and existing policies cannot be renewed. Currently, the NFIP is funded through March 22. Home sales in some areas could be impacted by an NFIP authorization lapse, as many mortgage companies will not approve loans without flood coverage. But even though the NFIP is the most commonly used flood insurance program, homeowners and future buyers may have other options; private flood insurance companies also offer coverage that would not be impacted by a government shutdown. Learn more about private flood insurance options here. [rsnippet id="12" name="About APOA and Sign Up for Updates"]

Executive Director Newsletter Q1 2024

By: American Property Owners Alliance Feb 28, 2020

Feb 28

2020

As we continue to face housing affordability challenges affecting renters, buyers and homeowners, the American Property Owners Alliance remains committed to advocating for policies and regulatory changes that unlock more value for property owners and broader access to homeownership. In Focus: Tax Policies Impacting Homeowners and Renters Tax season is right around the corner, and The Alliance is helping homeowners understand and take advantage of the tax credits available to them. At the same time, we are advocating for federal tax policies that would expand deductions for homeowners and incentivize the development of more affordable homes and rentals. New tax provisions allow property owners to deduct up to 30% of the cost of qualified residential property equipment upgrades. If you made energy efficiency upgrades in 2023, be sure to take advantage of energy efficiency tax credits or keep them in mind for improvements you’re planning for 2024. Tax Cuts and Jobs Act provisions that have impacted homeowner tax deductions are set to expire in 2025. The Alliance is laying the groundwork now to help ensure that any new tax law will restore critical tax deductions for homeowners. Furthermore, bipartisan policies are on the table right now that can expand tax incentives to address America’s affordable housing shortage, improving access to affordable homes and rentals. We welcome you to learn more about these commonsense solutions and add your voice to support the swift passage of these policies. What's New During Black History Month, we honor and celebrate the many generations of Black Americans who have helped shape our nation. This month and throughout the year, we also acknowledge that the gap in the Black-White homeownership rate is the largest it has been in decades; today, only 44% of Black Americans own a home, compared to 72.7% of White Americans. Fortunately, there are influential leaders who are taking action across the public and private sector to address barriers to homeownership that have an outsized impact on minority populations. Learn about three leaders paving the way for equitable homeownership. In my new piece, read how The Alliance and aligned organizations are focused on closing the homeownership gap, and learn about our work to address the racial disparities riddling the housing market and improve equitable access to homeownership for all. What's Coming Up With presidential primary elections underway in many states, it’s critical for leaders to address the years of underinvestment and underbuilding that have left America with a severe housing shortage and a lack of affordability in the market. Federal policies exist to increase housing supply and make homes more affordable, including housing grants to remove regulatory barriers to building more homes, tax credits to convert unused or outdated buildings into residential housing, and incentives to build and rehabilitate homes in the communities most in need of investment. We’re putting a spotlight on the role of the federal government in strengthening housing supply and affordability in communities throughout the country. Learn more about our focus and how to take action by visiting our Action Hub today.

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And make sure you’re following along on Twitter and LinkedIn for industry expertise. Thank you, Colin Allen, Executive Director [rsnippet id="41" name="About APOA and Join Us - Property Ownership"]

Black History Month Spotlight: The Path to Inclusive Homeownership

By: Colin Allen, Executive Director of the American Property Owners Alliance Feb 06, 2020

Feb 06

2020

During Black History Month, we honor and celebrate the many generations of Black Americans who have helped shape our nation, and we reflect on the triumphs and challenges they have faced throughout U.S. history. At the same time, this month reminds us of the work that still needs to be done in securing a more equitable future for all. A major aspect of that future is unlocking more access to homeownership. Today, the gap in the Black-White homeownership rate is the largest it has been in decades as only 44% of Black Americans own a home compared to the 72.7% of White Americans. Owning a home is one of the best ways to build equity and strengthen generational wealth. Yet challenges such as fluctuating mortgage rates, historically low supply, a lack of affordability and limited financial education are creating barriers to these wealth-building benefits.

The Current Landscape

In cities and towns throughout our country, home prices are skyrocketing. Take Dallas, Texas, for example. This major metro area has the second highest migration of Black residents and, in 2015, was a top destination for Black Californians looking to relocate. A decade ago, the median price of a home in Dallas was $280,000. Fast forward to today and the median price of a home in this growing city is now $439,000. Yet the cost of housing is only one part of the issue. The overall cost of living just about anywhere in America today is increasing faster than many wages can keep up with. Picture this: A decade ago, the average price of a car was around $34,000 and the average American family spent about $4,000 per year on groceries. Today, the average price of a car is around $48,000 and the average American family spends about $5,700 per year on groceries. Unless our leaders act, these numbers will continue their upward climb and the gap in the Black-White homeownership rate will only widen.

Pro-Housing Organizations and Advocates

Fortunately, many organizations and individuals are dedicated to breaking down barriers to homeownership and empowering Black Americans to build wealth through this investment:

The 3by30 initiative advocates for expanded pre- and post-purchase counseling for borrowers, as well as targeted down payment assistance programs and investments in affordable housing.
Ready Life is a Black-owned fintech company with the goal of equipping communities with the tools to build and preserve generational wealth, helping set more families and individuals up for homebuying success.
LaRese Purnell is the co-owner and managing partner of CLE Consulting Firm and author of “Financial Foundations.” Purnell helps expand financial education opportunities and address the most fundamental questions Americans have regarding their finances.
Secretary Marcia L. Fudge of the U.S. Department of Housing and Urban Development has worked throughout her career to assist underserved communities, advocating for pro-housing policies and programs that will help make the dream of homeownership and its benefits a reality for more Americans.

Learn more about some of the organizations and advocates who are creating a more equitable path to building wealth through homeownership.

Pro-Housing Policies

The federal government plays a critical role in closing the Black-White homeownership gap by incentivizing the development of affordable homes and providing direct assistance to buyers. After years of underinvestment in housing, it’s imperative for our leaders in Washington to commit to commonsense solutions that will improve equitable access to affordable homes. These pro-housing policies exist, now’s the time to see them through:

The Neighborhood Homes Investment Act is bipartisan legislation that would create a new federal tax credit to incentivize the development and renovation of family housing in the neighborhoods most in need of investment, adding about 500,000 family homes to the market in the next 10 years.
A key component to improving access to homeownership is expanding support for first-time buyers. This includes increasing pre- and post-purchase consultation for homebuyers, implementing alternative credit modeling to support equitable access to mortgage loans, and employing a combination of downpayment assistance and incentives for owners to sell to first-time buyers.
- The More Homes on the Market Act is bipartisan legislation that would incentivize current homeowners to sell to help put more homes on the market, benefiting sellers as they would not have to pay as much in capital gains taxes on their home sale, allowing them to better leverage the equity they’ve built throughout their lifetime.

Your Voice Matters

Black History Month is a reminder of the critical need to break down barriers and address the racial disparities riddling today’s housing market. But this isn’t a mission we only work towards during February—it’s a year-round effort, and it takes all of us to see it through. By strengthening our collective voice in support of the solutions on the table, we can put the dream of homeownership within reach for all who want to achieve it. Get involved in our efforts and help influence policy decisions impacting home buyers and the future of homeownership. [rsnippet id="41" name="About APOA and Join Us - Property Ownership"]

Three Leaders Paving the Way for Equitable Homeownership

By: American Property Owners Alliance Feb 06, 2020

Feb 06

2020

Did you know the gap in the Black-White homeownership rate is the largest it’s been in decades? Only 44% of Black Americans own a home, compared to the 72.7% of White Americans. Homeownership is the foundation of strong communities and one of the best ways to build wealth in America – everyone should have the opportunity to reap these benefits. It takes an all hands-on-deck approach to break down the barriers that minority home buyers face today. That’s why The Alliance is working to unite industry leaders and grassroots advocates to advance pro-housing solutions that will improve equitable access to homeownership and help close the Black-White homeownership gap. During Black History Month, we’re highlighting three influential leaders who are taking action across the public and private sector to tackle the challenges black home buyers face and unlock more opportunities to build wealth through homeownership.

Ashley Bell, Founder & CEO of Ready Life

As the CEO and founder of the Black-owned fintech startup, Ready Life, Ashley Bell uses his legal and financial expertise to revolutionize the home buying experience for Black Americans. Bell emphasizes the importance of providing first-time and minority home buyers with financial education resources to help these individuals successfully enter the housing market, advocating for a new path to homeownership that doesn’t rely on traditional credit scores for mortgage approvals. According to the Consumer Financial Protection Bureau, the mortgage denial rate for Black applicants was 16.4%, almost three times the denial rate for White and non-Hispanic applicants. Bell is addressing this disparity by advancing a non-traditional credit model to improve the likelihood of mortgage approval for Black buyers, who face higher denial rates. “Credit is like water. Where credit flows, things grow, opportunity grows. Where credit doesn’t grow, things don’t. For me, it’s about those deserts—the communities, the people that don’t have access to that opportunity, to that water.” – Ashley Bell, CEO and Founder of Ready Life

LaRese Purnell, Founder & Managing Partner of CLE Consulting

LaRese Purnell also understands that the path to homeownership is riddled with roadblocks for minority groups. As an innovative and strategic leader, Purnell is committed to teaching financial literacy and the importance of homeownership for building generational wealth. With 19 years of experience in business management, taxes and finance at large corporations and nonprofit organizations, Purnell uses his knowledge and experience to empower Americans with the financial tools to build and maintain wealth. Purnell’s book “Financial Foundations,” addresses fundamental financial questions and takes a conversational approach to help individuals establish the network and tools they need to build wealth and achieve financial freedom. Purnell also offers financial literacy courses and shares his knowledge at events across the country. The Alliance has been proud to partner with Purnell to host events across the country that connect buyers with financial education resources to set them on the path to build wealth through homeownership.

Marcia Fudge, Secretary for the U.S. Department of Housing and Urban Development

Secretary Marcia Fudge has spearheaded several initiatives under the U.S. Department of Housing and Urban Development (HUD) to remove barriers to homeownership and promote equity in housing. Secretary Fudge worked with the Federal Housing Agency recently to update its policy on student loan payment calculations—which previously disproportionately impacted those of color—to provide more access to single-family FHA-insured mortgage financing for creditworthy individuals with loan debt. In an effort to expand credit availability, Secretary Fudge has also advocated for alternate credit modeling to improve access to homeownership for all. HUD’s fiscal year 2022 budget included $100 million for Secretary Fudge’s FirstHOME Homebuyer Assistance initiative, which provides funding to expand homeownership opportunities for households of color by increasing the production of affordable housing nationwide. Secretary Fudge also assisted in launching the first interagency task force dedicated to ending bias in the home valuation process. The Property Appraisal and Valuation Equity (PAVE)—made up of a team from 13 federal agencies—created an action plan that examines the forms of bias that exist in residential property valuation practices and provides a blueprint for government and industry stakeholders to advance equity through concrete actions. The Alliance was proud to welcome Secretary Fudge’s Chief of Staff, Julienne Joseph, to our recent event in Cleveland, where we joined housing advocates for a conversation on the benefits of homeownership for unlocking generational wealth.

Become An Advocate for Equitable Homeownership

As an organization committed to expanding access to homeownership, The American Property Owner’s Alliance works to promote equity in homeownership through grassroots advocacy and resources that support first-time buyers. During this pivotal election year, we welcome you to join or efforts to advance pro-housing solutions that address key issues, from support for first-time buyers to expanding America’s affordable housing stock. Together, we can create a strong voice for policymakers to hear and expand critical programs and initiatives that will allow more Americans to build wealth through homeownership. Follow us on Twitter (X), Facebook and LinkedIn to learn more about our priorities and stay informed on the latest in housing throughout the year. [rsnippet id="41" name="About APOA and Join Us - Property Ownership"]

Take Advantage of New Energy Efficiency Tax Credits for Homeowners

Tax incentives help current homeowners protect their investment and make homeownership more accessible for all. When filing this year, make sure you know about the new federal tax credits that will help make homes more…

Take Advantage of New Energy Efficiency Tax Credits for Homeowners

By: American Property Owners Alliance Feb 01, 2020

Feb 01

2020

[rsnippet id="5" name="Take Action Page"] Tax incentives help current homeowners protect their investment and make homeownership more accessible for all. When filing this year, make sure you know about the new federal tax credits that will help make homes more energy efficient while reducing energy costs and demand.

Download Infographic

Preserving and expanding tax benefits for property owners is a top priority for the American Property Owners Alliance. That’s why we join together with our strong group of advocates to move forward tax policies that support homeowners and housing providers.

Support this Petition.

It’s time for Congress to acknowledge the value property ownership brings to families, communities, and the country. This is why I’m joining the American Property Owners Alliance and people across the country in calling for Congress to restore property owner tax incentives that will unlock more access to property ownership and more value for current owners.

2024 Preview: What’s Ahead for The Alliance

By: American Property Owners Alliance Jan 11, 2020

Jan 11

2020

In 2023, The Alliance activated across a range of housing issues, setting the stage for an eventful 2024. This year, we look forward to growing our work to protect property rights and unlock more equitable access to property ownership. We’re working to bolster support for current and aspiring property owners and break down the barriers to homeownership by advocating for solutions to America’s most pressing housing issues - from housing affordability to property owner tax incentives. In 2024, The Alliance will continue to serve as a trusted resource for first-time buyers looking to embark on their home buying journey, so more Americans can access its wealth-building benefits. Supporting Access to Homeownership Today, the path to homeownership is filled with roadblocks, especially for first time home buyers. Low inventory and high home prices make it increasingly difficult for prospective buyers to enter the market. It’s critical that in 2024, we continue to use our voices to advance solutions that will improve housing affordability and expand support for first-time buyers, like implementing alternative credit modeling, developing downpayment assistance programs and providing more direct support to buyers to promote equitable access to homeownership for all. Protecting the Value of Homeownership Homeownership remains one of the best tools to build wealth and sustain our communities, that’s why it’s essential to have protections in place to safeguard this investment. Unfortunately, in 10 states and Washington, D.C., this investment is at risk due to an unjust tax foreclosure policy known as home equity theft. By advocating for an end to home equity theft where it remains on the books, working to restore property owner tax incentives and sharing important estate planning resources throughout the year, our goal is to help ensure the most valuable investment – one’s home – is protected for years to come. Prioritizing Housing in the Election With the 2024 election approaching, it’s crucial to stay up to date on where your candidates stand on issues impacting home buyers and owners. Current and future property owners will have the opportunity to choose leaders that will prioritize the housing policies that support them by registering to vote and updating their registration status ahead of election day. Join The Alliance to stay up to date on housing and the election and see how you can support pro-housing policies throughout the year. Stay In the Know The Alliance has a lot to look forward to this year, and we can’t wait to bolster our support for current and future homeowners in 2024 and beyond. Learn about our priorities and follow us on Twitter (X), Facebook and LinkedIn to stay informed on the latest in housing throughout this new year. [rsnippet id="41" name="About APOA and Join Us - Property Ownership"]

Executive Director Newsletter Q4 2023

By: Colin Allen, Executive Director of the American Property Owners Alliance Dec 12, 2020

Dec 12

2020

2023 was a monumental year for the American Property Owners Alliance. We hosted events across the country that connect our members to industry experts and advocated for policies and regulatory changes that unlock more value for property owners and broader access to homeownership. Housing is at the center of everything we do, and we’re excited to share all that the American Property Owners Alliance has achieved this year, including: ✔️ Holding leaders accountable to protect property rights, improve housing affordability, and end the unethical practice of home equity theft through opinion editorials in The Boston Herald, Dayton Daily News, and AL.com. ✔️ Supporting first-time buyers with new resources including a step-by-step guide to prepare for homeownership and reliable financial education. ✔️ Sponsored events in Dallas, Charlotte, Cleveland, and Montgomery, convening housing industry experts, local leaders and residents for discussions on advancing housing affordability, equity in homeownership, financial education and more. And we didn’t stop there. We advocated for policy changes like the Neighborhood Homes Investment Act and the Revitalizing Downtowns Act, driving 3,213 messages to Congress. We also encouraged Washington to restore property owner tax credits and expand support for first-time home buyers. In 2024, we’re committed to supporting current and aspiring homeowners in every way we can. Read more about our advocacy accomplishments in 2023 and see the many ways Congress can support policies that are essential to securing access to homeownership and protecting property owners’ investments.

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Make sure you’re tuned in on Facebook, LinkedIn and Twitter to see what else we’ve been up to this year and stay up to date on the latest in housing as we head into 2024. Thank you, Colin Allen, Executive Director [rsnippet id="20" name="American Property Owners Alliance Section Only"]

Stay In-The-Know on Alliance Policy Initiatives: Sign up for The Alliance’s Executive Director newsletter.

Fill out the form below to receive quarterly email updates from Executive Director, Colin Allen, on areas of focus and progress in protecting property ownership.

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The Alliance’s 2023 By the Numbers

By: American Property Owners Alliance Dec 11, 2020

Dec 11

2020

The American Property Owners Alliance (The Alliance) is on a mission to advance policies that help ensure every American can reap the wealth-building opportunities owning a home brings. From rising mortgage rates to low home inventory and high prices, the challenges 2023 brought ignited our efforts to advance policies, programs and regulations that will improve housing supply and affordability in America. As we wrap up 2023, let’s look back at some highlights from the year. From expanding resources for first-time home buyers to calling for an end to home equity theft in the states where it remains legal, The Alliance activated across a range of housing issues and policies. What’s more, we grew our strong base of advocates eager to make their voice heard.

Mobilizing Audiences for Action

This year, more than 9,500 Americans joined The Alliance’s network of industry experts and advocates standing up for property rights. Not only did our database grow, but they also took action. Throughout the year, advocates sent more than 3,200 messages to Congress in support of the Revitalizing Downtowns Act and the Neighborhood Homes Investment Act to increase the supply of affordable homes across the country. What’s more, petitions in support of ending home equity theft where it remains on the books, expanding financial education for first-time buyers and restoring property owner tax incentives garnered more than 300 signatures.

Sharing Resources & Updates

In 2023, The Alliance launched two new landing pages sharing resources, critical information and calls for action on ending home equity theft and expanding support for first-time buyers. The Alliance’s News & Resources page continues to provide audiences with the latest updates regarding our priorities and the decisions in Washington. This year, we added 33 publications to the page, spanning newsletters from our executive director to an overview of housing market myths versus facts.

Convening the Experts & Strengthening Communities

The Alliance met with more than 465 prospective and current homeowners and led critical housing discussions in four cities this year. Colin Allen, The Alliance’s executive director, joined with local leaders and industry experts in Charlotte, Dallas, Cleveland and Montgomery to examine the path to homeownership and building generational wealth, explore the pro-housing solutions on the table to help break down barriers to homeownership and share valuable financial education resources with those navigating their local housing market. Colin Allen also published three articles informing audiences in states where home equity remains on the books about how they can take action to help end this unethical practice and strengthen property owner protections. Learn more about this unjust tax foreclosure policy and the steps state and local leaders can take to eradicate it in The Boston Herald, Dayton Daily News and AL.com.

What’s In Store for The Alliance?

We’re excited to ramp up our efforts in 2024 and grow our group of advocates in this critical election year. Use the form below to sign up for updates and see how we’re helping Americans hold their leaders accountable to solve America’s housing supply and affordability crisis, restore and strengthen property owner tax incentives, and assist first-time buyers on the path to building equity through homeownership. [rsnippet id="41" name="About APOA and Join Us - Property Ownership"]

First-Time Home Buyer Resource Part 1: Take The First Steps Towards Homeownership

Homeownership is how most Americans build wealth and is one of the most important investments you can make in your community. Although today’s market is riddled with roadblocks for buyers, with the right resources, the…

First-Time Home Buyer Resource Part 1: Take The First Steps Towards Homeownership

By: American Property Owners Alliance Nov 27, 2020

Nov 27

2020

[rsnippet id="39" name="First Time Home Buyers Resource"] Homeownership is how most Americans build wealth and is one of the most important investments you can make in your community. Although today’s market is riddled with roadblocks for buyers, with the right resources, the dream of homeownership is still achievable. The Alliance has created a guide to help first-time buyers navigate the first steps in the home buying process featuring advice from experts and buyers who recently purchased their first home. Eight in ten Americans say purchasing a home is a priority for them. The desire is there, but rising mortgage rates, high home prices and low inventory make it more difficult for buyers to achieve homeownership. The average age of a first-time buyer is the highest it’s ever been and the share of first-time buyers in the market is the lowest on record. A more challenging market demands more support for buyers. That’s why The Alliance created our First Time Home Buyer Resource and supports housing supply and affordability solutions as well as expanded support for first time buyers.

Everyone who wants to build equity through homeownership deserves the opportunity. Our First-Time Home Buyer Resource provides prospective buyers with the resources they need to take the first steps towards homeownership. Learn more about the various programs available for new buyers, the different types of mortgage options and receive real advice from industry experts and other first-time buyers.

Access the First-Time Home Buyer Resource

Take Advantage of These Homeowner Tax Credits Before the New Year

By: American Property Owners Alliance Nov 16, 2020

Nov 16

2020

Tax incentives help current owners protect their investment and make homeownership more accessible for all. Before 2023 comes to a close, make sure you know about and take advantage of the new federal tax credits that went into effect this year. These incentives help make homes more energy efficient while reducing energy costs and demand.

Download Infographic

How Alabama can strengthen property owner protections

By: Colin Allen, Executive Director of the American Property Owners Alliance Nov 08, 2020

Nov 08

2020

Homeownership is a direct investment in families, communities and the economy. It’s an American dream, and it’s one worth protecting. While the path to homeownership is riddled with roadblocks, buyers aren’t the only ones presented with challenges today. For many, the equity and generational wealth they have built through homeownership is threatened due to a lack of estate planning and, in states like Alabama, an unjust tax foreclosure policy known as home equity theft.

Read the full article in AL.com

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The Alliance Leads Discussion on Financial Education and Homeownership in Montgomery, Alabama

By: American Property Owners Alliance Oct 30, 2020

Oct 30

2020

On October 22, The Alliance led an event in Montgomery, AL, where industry experts and community leaders gathered with more than 70 local home buyers and owners to discuss strengthening resources for those on the path to homeownership and best practices for safeguarding the equity built through homeownership. The event kicked off with remarks from Colin Allen, executive director of The Alliance; Chris Searcy, Pastor of Fresh Anointing House of Worship; and Bill Green of the Douglass Leadership Institute. Attendees enjoyed a keynote address from LaRese Purnell, author of “Financial Foundations,” as well as a panel discussion and Q&A on “Making Homeownership a Reality.” Panelists featured Cassandra Andrews of Chosen Realty; Federal Home Loan Bank of Atlanta members Deborah Hill and Kimberly Lumpkin of Synovus Bank, and Steve Stringer and Bill Renfroe of River Bank & Trust. Throughout the conversation, these experts discussed the challenges first-time buyers face, wealth gaps affecting generations of Black families, and the solutions on the table to help improve equitable access to homeownership for all. Homeownership is an investment in families, communities and the country. Yet, the path to homeownership today is riddled with roadblocks such as low supply, high home prices, competitive bidding and mortgage rates hovering close to 8%. These challenges create barriers to home buying, keeping hopeful millennial and Generation Z buyers on the sidelines. In fact, the median age of a first-time home buyer today is the highest it’s ever been, at 36 years old. It's never too early to prepare for the home buying journey, and our panelists discussed the steps every individual needs to know on the path to homeownership, including:

Saving for a downpayment
Creditworthiness and financial education
Questions to raise with realtors, lenders, underwriters and inspectors
Protecting your investment and building generational wealth

The Alliance is working to advance the solutions that will expand support for first-time buyers and improve access to homeownership in Alabama and throughout the country. By expanding pre- and post-purchase consultation, we can provide more direct support to buyers during every step of the journey, from compiling savings to securing homeowners insurance. Next, implementing alternative credit modeling that’s not based solely on credit scores will strengthen equitable access to mortgage loans and set buyers up for financial success. Lastly, developing downpayment assistance programs to help buyers secure an affordable property, and creating incentives for current owners to sell to first-time buyers, will help expand the marketplace. Conversations at the event also touched on the importance of protecting homeownership long after one acquires the keys and is in the door. This includes developing an estate plan to ensure all assets and valuable items are managed, and that the next generation is set up for success. What’s more, Alabamians can further property owner protections in their state by advocating for an end to home equity theft, an unjust tax foreclosure policy that allows the government to take more than what is owed in taxes, interest and penalties when a homeowner falls behind on their property taxes. The event in Montgomery is the fourth of its kind this year, followed by conversations in Dallas, Charlotte and Cleveland. Sign up to learn more about future events and stay up to date on the latest housing news and resources. The Alliance is committed to helping individuals and communities throughout the country access the wealth-building benefits of homeownership. Stay tuned to see where we’re headed in 2024, and follow us on X, LinkedIn and Facebook to keep up with our efforts and be the first to know about future events near you. [rsnippet id="31" name="About APOA and Join Us"]

Protecting Your Investment Through Estate Planning

By: American Property Owners Alliance Oct 13, 2020

Oct 13

2020

Homeownership brings households throughout the country an avenue to create and strengthen generational wealth, and a place to house cherished memories and time spent with loved ones. Through life planning, you can ensure these moments and investments remain protected for years to come. An estate plan details who will inherit your assets after you’ve passed. It’s not always easy and can be challenging to think about, but having a plan in place is critical to ensure the next generation is set up for success and valuable possessions are managed, with one of the most important possessions being the place you call home. If you don’t designate who will receive your property after you pass, you lose control over what happens to it. The process differs by state, but often results in a probate court deciding who will inherit your home, a lengthy process that can produce a great deal of fees and even drive rifts in families. It’s important to remember that the courts won’t automatically transfer assets to the surviving spouse, nor will they know the most responsible or trusted child, sibling or loved one to give ownership of your property. If an individual does not have any heirs—no spouse, children, grandchildren, surviving parents, siblings, nieces, nephews, aunts or uncles—the property will be returned to the state. This process may also occur if assets go unclaimed for an extended period of time. Learn about the laws in your state. Today, just one in three American adults (34%) have an estate plan, and of those individuals, 20% have not updated their plan in the past five years. What’s more, about 72% of adult American women, and 59% of adult American men, are without a plan. Estate planning isn’t just for the rich—everyone can benefit from having one in place. Explore the answers to common questions many individuals have about estate planning and learn how you can get started with the process. Estate Planning Frequently Asked Questions Question: Why do I need a will? Answer: A will allows you to designate heirs to your property, investments, bank balances and valuable possessions, and ensure that these wishes are carried out after you pass. Likewise, a will allows you to leave any assets to an institution, organization or charity of your choice. A will is critical to protecting your loved ones by preventing them from receiving a large tax burden after you pass, eliminating any family arguments before they start, and ensuring any children are cared for by those you trust most. Ultimately, it makes for a seamless process and gives your loved ones one less thing to worry about after you pass. Question: When should I create a will? Answer: You can begin creating a will as soon as you become a legal adult. It’s critical to have a will in place and to update your will when experiencing any of the following major life occurrences:

Owning property
Getting married
Having children
Amassing significant savings or investments
Venturing on big trips or traveling for extended periods of time
Inheriting money or other assets
Going through a divorce
Welcoming grandchildren and new family members

Question: How often can I update my will? Answer: You can change your will as often as you like. Even if you haven’t experienced any of the aforementioned major life occurrences since the last time you updated your will, you should still read over the document every few years to ensure it remains as you like. Question: How do I create a will? Answer: Begin preparing your Last Will and Testament by gathering a list of your assets, debts and beneficiaries, as well as the chosen executor and any legal guardians, if necessary. You may create the document on your own through a number of online will makers, or you may work in-person with an attorney to have a guide by your side throughout the process. Once your will is drafted, it must be witnessed by typically two individuals. These are people of sound mind, at least 18 years of age, and trusted by you and your loved ones. Many states require a will to be notarized. You can do so at law firms or law offices, AAA and UPS offices, accountant offices, real estate firms and offices, and similar places. Locate a notary in your area. [rsnippet id="31" name="About APOA and Join Us"]

Unlocking Generational Wealth Through Homeownership: A Conversation in Cleveland, Ohio

By: American Property Owners Alliance Oct 02, 2020

Oct 02

2020

On September 17, The Alliance hosted an event in Cleveland, OH, where prospective buyers were able to discuss building wealth through homeownership with housing and finance industry experts. LaRese Purnell, Author of “Financial Foundations,” U.S. Department of Housing and Urban Development Chief of Staff, Julienne Joseph, and local leaders spoke to more than one hundred Cleveland residents about solutions to the housing affordability crisis and tools for first-time buyers to navigate the financial journey of homeownership. “Homeownership education and counseling is key…and the reason why I say that is that it empowers you. It allows you to take ownership of the process,” said Joseph. Today, first-time home buyers make up just 26% of buyers in the market, compared to 34% just last year. Homeownership is the number one driver of wealth in the U.S., but rising mortgage rates, affordability challenges and low inventory are making it more difficult for first-time home buyers to enter the market. It’s clear more support is needed to help Americans achieve the dream of homeownership. "We're trying to help folks accumulate wealth so they can use it for their own well-being, and so you can pass it down to your kids and your families through sustainable homeownership," said Colin Allen, executive director of the American Property Owners Alliance. In addition to The Alliance’s work to expand first-time home buyer support nationally, events like this are critical to directly engaging with prospective homeowners, allowing them to interface with experts who understand their unique market challenges and connecting them with resources in their community. “We have to do so much more to connect our community with the resources and programs that are available. Buying a home is complicated, it’s confusing and it’s consequential…it can be intimidating. But a lot of those barriers can come down if we meet people where they are,” said Congresswoman Shontel Brown, who spoke at the event. The conversation in Cleveland is the third event of its kind this year, following conversations in Dallas and Charlotte. Next month, The Alliance is hosting an event in Montgomery, AL, to help provide local homeowners with helpful resources on their ownership journey and to use their home to build generational wealth and also to help prospective homeowners as they embark on the path to homeownership. Event information can be found here. “This isn’t just important in Cleveland,” said Purnell, “but this information is necessary around our nation.” Visit our website to see how you can get involved as we make the dream of homeownership accessible for everyone. Follow us on X, LinkedIn and Facebook to stay up to date on our efforts and be the first to know about future events near you. [rsnippet id="20" name="American Property Owners Alliance Section Only"]

Stay In-The-Know on Alliance Policy Initiatives: Sign up for The Alliance’s Executive Director newsletter.

Fill out the form below to receive quarterly email updates from Executive Director, Colin Allen, on areas of focus and progress in protecting property ownership.

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Ohio needs to close its unjust tax foreclosure loophole

By: Colin Allen, Executive Director of the American Property Owners Alliance, and Jim Manley, State Legal Policy Deputy Director at Pacific Legal Foundation Sep 27, 2020

Sep 27

2020

Homeownership is a direct investment in families and communities across the Buckeye State and throughout our nation. It’s the “American dream” — owning a home provides unmatched value and wealth-building opportunities for individuals, families and future generations. Protecting Ohioans on the path to building equity through homeownership is critical. Protecting their equity long after it’s been accrued is just as important. Unfortunately, here in Ohio, many homeowners are at risk of losing their equity due to a loophole allowing local governments to take more than what is owed in property taxes — otherwise known as home equity theft. Read the full article in the Dayton Daily News [rsnippet id="12" name="About APOA and Sign Up for Updates"]

Protecting and Expanding America’s Affordable Housing Supply

By: American Property Owners Alliance Sep 06, 2020

Sep 06

2020

America faces a housing shortage unlike ever before. Years of underproduction and underbuilding have resulted in skyrocketing housing costs, a decline of about 4.7 million affordable apartments, and an insufficient supply of about 1 million homes on the market, compared to the 4 million available in 2007. Large investors, private equity firms and other corporations are escalating affordability challenges by purchasing large portions of residential property as profit making ventures. These groups charge high rent or sell at prices unaffordable for most Americans, and they’re less willing to negotiate affordable rental agreements. Ensuring there are enough affordable rentals to meet demand is critical, especially for Americans who want to save for a downpayment and access the benefits of homeownership. To close the supply-demand gap, we must incentivize development of more affordable rental properties and protect local housing providers who contribute more than 40% of all rental housing today and are more likely to negotiate affordable rent. These small, mom-and-pop landlords—those who own properties of about one to four units in their local community and conduct the day-to-day management—are more likely to provide naturally occurring affordable housing (NOAH). NOAHs are multifamily rental properties that are affordable to low-income households without a public subsidy attached. Large investors are less likely to provide these affordable rentals without government incentives because they can afford to have a “this is the rent, take it or leave it” mentality. Today, NOAHs account for most affordable housing units across the United States. Preserving and expanding NOAHs is critical to ensuring Americans can access affordable rentals now and into the future. Supporting local housing providers is a key pillar of this effort. Unfortunately, NOAHs are at risk due to ongoing effects of the COVID-19 pandemic, which exacerbated the housing affordability crisis and put economic strains on millions of households and their landlords. As housing providers share their stories with us to help bring the challenges they face to light, Nathan R. of Chicago stated, “Now, people that used to live here [Chicago] are being priced out not just of homeownership, but rental housing too… Our renters are often working two jobs just to pay for the now $995 one-bedroom rent.” Megan E., a housing provider in Los Angeles, shared, “I own rent controlled units in the city of L.A. During the Covid era rent freeze and eviction moratorium, I have lost thousands of dollars and have found it difficult to make necessary repairs. The city has shown complete disregard for the small business housing providers like myself. We already had significantly below market rents before the pandemic due to the strict rent control laws in place. With the rent freeze, we’ve seen operating costs skyrocket with record inflation year after year. Freezing all increases since our last increase in 2019 has meant net operating income has fallen significantly.” You might think rent control is the best solution to avoid rising rents. However, economists have studied the impact of rent control across a number of markets and drawn the same conclusion: rent control actually decreases affordability in the long run. You heard that right—rent control is a band-aid solution that undermines small housing providers’ ability to maintain NOAHs and stalls the development of additional housing stock by taking away incentives for developers. The right path to housing affordability is to provide targeted assistance to renters who are facing economic distress and invest in increasing America’s housing stock to close the supply-demand gap. Fortunately, there are long-term solutions on the table right now that can support renters and protect and expand America’s affordable housing stock:

Providing direct, targeted assistance to renters facing economic distress will help stabilize households and properties and set individuals up for financial success when entering the market.
Creating housing grant programs to help pass pro-housing policies at the state and local levels will remove regulatory barriers so more homes can be built faster.
Passing the Neighborhood Homes Investment Act would create a new federal tax credit to incentivize the development and renovation of family housing in the communities that need it most, putting about 500,000 more family homes on the market in the next decade.
Passing the Revitalizing Downtowns Act would create a tax credit to convert unused office buildings into residential, commercial and retail spaces, adding more affordable housing units to the market.

By pushing forward these solutions, we can not only tackle today’s housing crisis, but we can help the small, local housing providers continue to serve their communities in the most effective ways possible. Here are two things you can do today to support our effort:

Visit our Action Hub to add your voice in support of pro-housing solutions.
Housing providers, share your story and help policymakers understand the challenges you face and the most effective solutions.

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Financial Education Support Can Improve Black Homeownership Rates

By: Colin Allen, Executive Director of the American Property Owners Alliance Aug 25, 2020

Aug 25

2020

Thousands of Black Americans are leaving large metropolitan areas like New York City, Los Angeles and Chicago for growing communities throughout the South. In North Carolina, about 44,250 Black residents moved to Charlotte’s Mecklenburg County in 2021, now accounting for 35.2% of Charlotte’s population and 22.3% of the entire state’s. In Georgia, the population of Black residents has nearly doubled in the past 30 years, totaling more than 3 million residents according to the 2020 census. To top that, Texas recently surpassed Georgia as having the highest number of Black residents with about 3.4 million individuals, according to Pew Research Center. Factors such as the cost of raising children, accessibility and quality of life, coupled with the stability provided by Fortune 500 companies headquartered throughout the region, make these southern states an appealing place to live. However, one area in particular is creating challenges when relocating: the housing market. According to the National Association of REALTORS®, the gap in the Black-White homeownership rate is the largest it’s been in decades, with only 44% of Black Americans owning a home, compared to the 72.7% of White Americans. As the South’s popular metro areas continue to grow, housing supply can’t keep up with demand. Rising mortgage rates on top of regulatory barriers, infrastructure limitations, high costs to build, and general resistance to new construction have driven up property values and limited the availability of affordable homes. In addition to supply constraints, other factors have disproportionate impacts on minority residents. Nationally, young Black Americans have lower credit scores than their white counterparts, making it harder to qualify for loans at affordable rates. What’s more, college debt is creating a barrier to homeownership for many: 36% of U.S. millennials say their college debt is a major obstacle to saving for a down payment. According to the Center for Responsible Lending, for a variety of reasons, borrowers who attended historically Black colleges and universities are disproportionately burdened with debt, making it more difficult to build wealth through homeownership or invest in retirement funds. Pursuing a college education shouldn’t come at the cost of owning a home. These are milestones that should only put Americans on the path to more wealth-building opportunities. While there are many resources to assist homebuyers and current homeowners—including the Financial Literacy and Education Commission’s budgeting tools, the Federal Student Aid’s resource hub, and various grant programs and housing counselors—we need a more proactive approach to helping young buyers understand the role of credit in the home buying process. As executive director of the American Property Owners Alliance (The Alliance), I dedicate a great deal of time advocating for local, state and national policy solutions that remove barriers to homeownership and increase housing supply. It’s critical that our leaders prioritize resources that support Black residents long before the home buying process begins. As more individuals and families put down roots in growing areas, some may want additional support in learning how to build credit and manage debt so they can ultimately position themselves to purchase a home and build generational wealth. They should be able to find the support they need, easily. At The Alliance, we’re calling on Congress to support three bipartisan solutions that will aid buyers on multiple fronts and unlock more equitable access to homeownership. First is expanding pre- and post-purchase consultation to provide buyers with more direct support at every step of the homebuying journey, from saving for a downpayment to securing homeowners insurance. Next, is implementing alternative credit modeling that’s based on your bill and rent payment history, not solely on credit scores. This way, buyers can have competitive access to mortgage loans. Lastly, developing downpayment assistance programs will help buyers secure an affordable home, and creating incentives for current owners to sell to first-time buyers will help expand the marketplace. These efforts, combined with even more creative housing policy solutions and assistance programs, will set up all first-time homebuyers for success. People are moving to their desired communities with hopes of upward mobility, and homeownership is a major component of that dream. By expanding financial education resources for today’s buyers and those to come, we can create a foundation for homeownership to thrive for generations. [rsnippet id="30" name="Sign Up for Updates (Get Involved button)"]

Executive Director Newsletter Q3 2023

By: Colin Allen, Executive Director of the American Property Owners Alliance Jul 21, 2020

Jul 21

2020

The American Property Owners Alliance is focused on advancing solutions to improve protections for homeowners and address housing affordability issues across the nation. Read more below about the actions we’ve taken recently to combat Home Equity Theft, provide the Federal Housing Finance Agency with input as they consider new multifamily protections and to explore potential opportunities for new tenant protections backed by the federal government, and recognize the ongoing value of homeownership in June.

Calling for an End to Home Equity Theft

The Alliance remains committed to ending the practice of home equity theft everywhere it remains legal. In several states, local governments are authorized to take beyond what is owed in property taxes when a homeowner falls behind and underpays, robbing homeowners of the wealth they’ve built over a lifetime. The Alliance is working to end this unethical practice in 10 states and Washington D.C. where it is remains on the books. A recent survey conducted by The Alliance concluded that a majority of respondents oppose the practice. I recently partnered with Pacific Legal Foundation to share our opinion with the Boston Herald about how this practice impacts homeowners in Massachusetts and nationwide. State legislators should begin crafting legislation now to close all loopholes allowing a practice that undermines the value of homeownership and the financial benefits that come with it. Read our opinion piece in the Boston Herald.

Federal Housing Finance Agency Multi-Family Tenant Protections Comment Portal

Housing providers play a key role in creating opportunities for upward mobility for tenants by helping them access safe, affordable homes. In May, the Federal Housing Finance Agency (FHFA) published a Request for Input (RFI) to investigate issues tenants residing in multi-family properties face and to explore new tenant protections backed by the federal government. Earlier this year, the White House directed the FHFA in its “Blueprint for a Renters Bill of Rights” to “identify the opportunities and challenges of adopting and enforcing tenant protections including policies that limit egregious rent increases at properties with enterprise-backed mortgages.” Through the end of this month, the FHFA is collecting input from tenants and multifamily housing providers, as well as other stakeholders, to identify these challenges and inform policies related to rent increases, source of income, communication timeframes, causes for eviction and more. Providing perspective from housing providers is critical at this moment, please visit our page to share your input before the July 31 deadline.

#UnlockingHomeownership Wins During National Homeownership Month

During the 21st National Homeownership Month, we celebrated the ongoing value of homeownership and took action on key issues that will unlock more value for current owners and broader access to homeownership. Some key wins included: 🏠 Sending over 950 messages to Members of Congress in support of the Neighborhood Homes Investment Act and Revitalizing Downtowns Act 🏠 Adding over 5,000 new advocates to The Alliance 🏠 Gathering over 150 signatures pledging support to end home equity theft And, while Homeownership Month has wrapped, we remain laser-focused on supporting pro-housing policies. Visit our Action Hub to learn about key issues and add your voice.

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For more updates, news, and resources, follow me on LinkedIn and Twitter. Thank you, Colin Allen, Executive Director [rsnippet id="20" name="American Property Owners Alliance Section Only"]

Stay In-The-Know on Alliance Policy Initiatives: Sign up for The Alliance’s Executive Director newsletter.

Fill out the form below to receive quarterly email updates from Executive Director, Colin Allen, on areas of focus and progress in protecting property ownership.

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Broadening the Path to Homeownership: A Q&A with Ready Life’s Ashley Bell

By: American Property Owners Alliance Jul 17, 2020

Jul 17

2020

The Alliance’s executive director, Colin Allen, recently sat down with Ashley Bell, Founder and CEO of Ready Life, to discuss the role financial education plays in the homebuying journey and how expanding resources in this area can set first-time buyers up for success. Bell leads Ready Life, a Black-owned fintech company, with the goal of equipping communities with the tools to build and preserve generational wealth. Through Ready Pay, a digital spending and payment account, customers can make financial transactions—whether buying a home or just making everyday purchases. Ready Life also offers a platform for small businesses and nonprofits, presenting a new way to accept payments. In addition, Ready Life Mortgage puts forward a new path to homeownership that doesn’t use traditional credit scores for mortgage approvals. For example, when users pay their rent on time through Ready Pay, Ready Life uses this data to underwrite a mortgage and help set families and individuals up for homebuying success. Homeownership provides an important avenue to build wealth, but the path to owning a home today is ridden with roadblocks for many buyers. What’s more, the gap in the homeownership rate between Black and white families in America is the largest it’s been in decades: 44% of Black Americans own a home compared to the 72.7% of white Americans. It's time to not only close this gap, but to also put resources in place so all who desire to own a home one day can successfully enter the market and begin building equity. In this Q&A discussion, Allen and Bell explore Ready Life’s work to build a more equitable path to homeownership: Allen: What drew you into this area of banking and finance, and financial awareness? Bell: Credit is like water. Where credit flows, things grow, opportunity grows. Where credit doesn’t grow, things don’t. For me, it’s about those deserts—the communities, the people that don’t have access to that opportunity, to that water. The co-founder of my company is Dr. Bernice King, and Dr. King and I have been joined at the hip at trying to make sure we can erase those deserts and bring that opportunity to the people that need it the most. Allen: How did you and Dr. King come up with the idea of Ready Life and expanding access to credit through a new and innovative opportunity? Bell: Dr. King and I started working together during the Covid crisis. [….] During that time, I was promoted up to the White House to become Policy Advisor on Entrepreneurship and Innovation. In that role, I was able to coordinate and work with all of the agencies to help create and to execute what became the Payroll Protection Program (PPP), and in that, it was really tough to reach that last mile of entrepreneur, and Dr. King really had a passion there. She saw the hurt that was going on in our country and the lack of access to those federal funds. In our collaboration working together, we were able to reach many of the people that were off the grid that needed help when big banks and big companies were sucking up all the federal dollars—some using it well and some using it not so well. During Covid, you had the culmination of a great economic crisis and also at the same time, the greatest civil unrest in our country since 1968, and her father [Dr. Martin Luther King Jr.] said around that time that there were “inseparable twins” of economic and racial injustice. You cannot separate the two—if you choose to talk about racial justice in our country, you can’t have that conversation without economic justice. So, Dr. King has been focused on her father’s work on the racial side, and I’ve been focused a lot on the economic side, and we felt that joining the two could create a comprehensive ecosystem of solutions that we hope can put a dent in the racial wealth gap, and that’s what is the nexus of what created Ready Life. Allen: Is there a nexus between homeownership and entrepreneurship? Does having that financial security through homeownership play a role in the ability to be able to start your own business? Bell: Yes, it’s absolutely connected, and Ready Life is at the forefront of allowing people to be more than a credit score, to be bigger than the three digits that are attached to your name and your social security number. Credit scores are now the proxy for the old status quo. Every number tells us that when you look at the fact that 54% of African Americans are deemed to be not worthy of having the credit to own a home. Well, that's impossible to believe that half of a race of an entire people shouldn't have a home in this country. That lets you know that numbers are off. For people whose credit scores work for them, that's great. Keep using them. But for us, we think that there's a vast majority of people who have the cash and have the ability to pay. That was highlighted when you and I were together in Atlanta—when they showed that the average rent in Atlanta was $1,538 and mortgage was $1,500. So how can you have a system where people are paying the exact same thing, but half of them are able to create equity in their home? And that equity goes as a safety net when there's a health crisis, and when you're looking at starting a business and getting a home equity line to create wealth, generational wealth—all those things come from owning a home. You see companies every day popping up financing cars and other unsecured debt not using a credit score. That model just hasn't been brought to the real estate market yet. We’re bridging the gap in this new world that believes that credit scores are a thing of the past, and what’s in the future, is a world where three digits don’t define you. Allen: Are there other resources that the federal, state, and local government should be leaning into to offer opportunities like what you’re doing? Bell: The federal government needs to do everything it can to help create this new marketplace where we can get investors to come and pull capital, and to create alternative scoring systems to give access to credit to those people who the current system doesn't serve. This is happening in silos all across our country now—the auto loan industry is leading it, the unsecured loan industry is leading it, and Ready Life is going to be embracing that as well. What the federal government needs to do is create a regulatory environment where every company doesn't have to reinvent the wheel every time—every company who is doing these loans, they're all coming up with their own algorithms. The quicker we can speed up creating that marketplace where capital can flow, that credit, that water that we talked about, can reach the people that need it most. That is what the federal government can do the best. Allen: What can first-time home buyers, who maybe aren’t ready to enter the market yet, do education- and savings-wise to prepare? Bell: So right now, interest rates are high, not a lot of people are buying houses, and that's on purpose. But it’s a great time to put yourself in the best position and take advantage of the market when it bounces back. Ready Life leans into using your rent as a primary indicator of your ability to pay a mortgage. That's what current credit scores don't do. Some will take rent into consideration, may give you five points or 10 points here. But at the same time, a missed credit card payment from two years ago will affect your credit score more than paying rent for two years. That system doesn't add up for me. It doesn't add up for most Americans. So what we believe is that your rent should be a priority and other things should go to support that. You should understand how to evaluate your credit, do the things to get your debt down, and to get your credit score up. But at the exact same time, you should also be aware of services like Ready Life, how you spend your money and what you spend it on. We can create a separate credit profile for you and work with you to be able to have a pathway to homeownership that's alternative to the current system. [rsnippet id="27" name="About APOA and Sign Up for Updates (...impact homeownership)"]

Massachusetts property owners need better protections

By: Colin Allen, Executive Director of the American Property Owners Alliance, and Jim Manley, State Legal Policy Deputy Director at Pacific Legal Foundation Jul 17, 2020

Jul 17

2020

In several states, local governments are authorized to take beyond what is owed in property taxes when a homeowner falls behind. Known as home equity theft, this practice robs homeowners of the wealth they’ve built over a lifetime. In fact, it’s happening right here in Massachusetts, despite a recent Supreme Court ruling holding the practice unconstitutional. According to a recent study by Pacific Legal Foundation, homeowners in Massachusetts lose an average of 82% of their equity to this tax foreclosure policy. For the 315 Massachusetts homes in Pacific Legal Foundation’s dataset, households lost a total of $48 million, with the average homeowner losing more than 15 times the debt they owed. Read the full article in the The Boston Herald [rsnippet id="12" name="About APOA and Sign Up for Updates"]

Survey Indicates Americans Want an End to Home Equity Theft

By: American Property Owners Alliance Jun 26, 2020

Jun 26

2020

Washington, D.C.—The American Property Owners Alliance (The Alliance) finds majority of respondents in a May 2023 survey oppose the practice known as home equity theft, which allows state and local governments to keep beyond what they are owed in taxes, interest and penalties when a property owner falls behind on their property taxes and enters foreclosure—no matter how small the debt. Property ownership is one of the most significant ways to build equity in America, but in Alabama, Arizona, Colorado, Illinois, Maine, Massachusetts, Minnesota, Nebraska, New Jersey, New York, Oregon, South Dakota and Washington, D.C., the practice of home equity theft remains legal and puts homeowner’s equity at risk. What’s more, in Alaska, California, Idaho, Montana, Nevada, Ohio, Rhode Island, Texas and Wisconsin, loopholes exist allowing this practice in certain instances. The Alliance opposes home equity theft in all circumstances and, in March, filed an amicus brief with the U.S. Supreme Court in support of the petitioner in Tyler v. Hennepin County, a case examining the practice in Minnesota. On May 25, the Court ruled 9-0 in favor of 94-year-old Geraldine Tyler who lost her home and $40,000 in equity due to what was originally a $15,000 debt. The Court’s unanimous decision is based on Hennepin County’s unconstitutional retaining of excess value following a foreclosure and a long-standing principle that the government cannot take more from a taxpayer than what they owe. While this is a win for property rights and will help property owners challenge this practice armed with legal precedent, home equity theft is still on the books in 12 states and D.C. “Those states where home equity theft is still in effect must pass legislation that will protect the equity of property owners, particularly senior citizens and other members of the community who may be more vulnerable and facing foreclosure, and close all legal loopholes allowing the government to take more than what’s owed in property taxes,” said Colin Allen, The Alliance’s Executive Director. Consumers agree—it’s time for action. A survey was conducted by The Alliance from May 10-16, 2023, and has a margin of error of +/-3.1%. While nearly equal numbers of respondents in each jurisdiction where home equity theft is legal were surveyed, the findings from the survey are weighted to represent the actual population of each jurisdiction relative to the others. The survey found:

56% of respondents had never heard of the term “home equity theft,” and 54% of respondents were unaware that this practice legally exists where they live.
62% of respondents describe the policy of home equity theft as unethical.
77% of respondents agree that state law should be changed to end the practice of home equity theft, so that going forward, only the amount owed in property taxes, interest and penalties—and nothing more—could be collected by the government or private investor.
74% of respondents find it unfair that under the law where they live, when the government or a private investor takes a piece of property to get the unpaid property tax dollars owed to it, they are allowed to keep not just the amount owed, but the full equity value of the home.
60% of respondents support a prohibition on private debt collectors profiting from seizing then selling homes where very small amounts of property tax are due.

For more information on where home equity theft occurs and how to take action to end it, visit The Alliance’s website. CONTACT Amber Hord apoamedia@propertyownersalliance.org [rsnippet id="12" name="About APOA and Sign Up for Updates"]

National Homeownership Month Event in Dallas

By: Colin Allen, Executive Director Jun 15, 2020

Jun 15

2020

The key to #UnlockingHomeownership for more Americans is prioritizing solutions that will put more affordable homes on the market. Recently, The Alliance partnered with Axios to lead a conversation in Dallas on equity and affordability in the housing market. Homebuyers across the country are facing historically low housing supply coupled with high prices and a competitive market. Our conversation with industry experts focused on solutions that will put more affordable homes on the market in Dallas and other metro areas that are grappling with acute housing shortages. Some highlights from the event include: 🗝️ Benefits of Homeownership: during National Homeownership Month and always, we recognize the value of homeownership for building wealth and strengthening communities. As I noted in Dallas, “homeownership represents independence and financial stability.” The Alliance supports a range of policies that can unlock more access to homeownership and more value for current owners. 🗝️ The Key to Improving Housing Affordability: solutions exist to put more affordable homes on the market to address housing supply and affordability challenges head-on. Bipartisan legislation like the Neighborhood Homes Investment Act would create 500,000 available homes to help close the supply-demand gap for moderately priced homes. Take action to make this happen today. 🗝️ Ending Home Equity Theft: When an individual falls behind on their property taxes, no matter how small the debt, home equity theft allows state and local governments to seize the property and keep the full sale amount, beyond what they are owed in taxes, interest and penalties. The only way to end home equity theft is by changing the laws that allow this practice in the 12 states and D.C. where it remains legal—learn more. See the full breakdown of the conversation in Dallas and learn how we’re making strides for homeowners. [rsnippet id="20" name="American Property Owners Alliance Section Only"]

Stay In-The-Know on Alliance Policy Initiatives: Sign up for The Alliance’s Executive Director newsletter.

Fill out the form below to receive quarterly email updates from Executive Director, Colin Allen, on areas of focus and progress in protecting property ownership.

[rsnippet id="19" name="2023_APOA_CEC_SIGNUPS"]

The Alliance and Axios Lead Critical Housing Discussion in Dallas

By: Colin Allen, Executive Director of the American Property Owners Alliance Jun 13, 2020

Jun 13

2020

On June 6, the American Property Owners Alliance led a discussion with Axios on housing affordability in Dallas. Guests joined in-person and virtually to hear conversations with local experts and leaders, including David Noguera—the City of Dallas’ Director of Housing and Revitalization, Linda McMahon—President and CEO of The Real Estate Council, and Texas State Representative John Bryant. I also had the pleasure of joining Axios on stage for a View from the Top segment examining barriers that prevent Americans from achieving homeownership and pro-housing solutions on the table that can address these challenges head-on. Throughout the event, speakers discussed the lack of housing supply and the need for housing affordability in Dallas, as well as the wealth-building benefits of homeownership. With June being National Homeownership Month, there was no better time to have these conversations. Dallas faces the challenge of effectively accommodating current residents as new ones rapidly move in—ensuring every household can not only find a home in this growing city but find one that meets their unique goals and financial needs. The Dallas area isn’t the only area trying to navigate this obstacle as the current housing shortage impacts communities all throughout America. According to a survey by NerdWallet, nearly 28 million Americans began 2023 with a plan to purchase a home in the new year, yet only about 1 million homes are available on the market today. What’s more, fluctuating mortgage rates are not only keeping buyers from entering the market, but they’re also preventing current owners from selling, limiting supply even more. As we discussed in Dallas, prioritizing the policies that will invest in affordability and provide communities with the tools to increase supply is key to improving the path to homeownership for all. Today, the low-income housing tax credit serves as a critical resource, providing an incentive to construct and rehabilitate affordable rental housing for low- and moderate-income households. What’s more, on the table right now is the Neighborhood Homes Investment Act, legislation that would renovate and rehabilitate homes in the communities most in need of investment, adding about 500,000 affordable homes to the market. On top of that, policymakers can further increase housing supply by passing the Revitalizing Downtowns Act, legislation that would convert unused commercial and office buildings into residential and mixed-use spaces. Those who joined us in Dallas know that homeownership is one of the most significant ways to build wealth in America—it is an investment in you, your family, your community and the country. Advancing the solutions that will both unlock more equitable access to homeownership and unlock more value for current homeowners is essential to protecting this investment for years to come. Though we discussed them in Dallas, these solutions can support all areas throughout the country facing housing shortages. As we continue through National Homeownership Month and what’s proving to be a volatile year for the market, I look forward to seeing how the Administration supports these policies and expands their efforts to improve homeownership in America. [rsnippet id="20" name="American Property Owners Alliance Section Only"]

Stay In-The-Know on Alliance Policy Initiatives: Sign up for The Alliance’s Executive Director newsletter.

Fill out the form below to receive quarterly email updates from Executive Director, Colin Allen, on areas of focus and progress in protecting property ownership.

[rsnippet id="19" name="2023_APOA_CEC_SIGNUPS"]

The American Property Owners Alliance Commends Supreme Court Decision in Tyler v. Hennepin County

Washington D.C.—On May 25, the Supreme Court ruled in favor of the petitioner in Tyler v. Hennepin County, a case examining the practice of home equity theft. The Alliance applauds the Supreme Court for their…

The American Property Owners Alliance Commends Supreme Court Decision in Tyler v. Hennepin County

By: American Property Owners Alliance May 26, 2020

May 26

2020

Washington D.C.—On May 25, the Supreme Court ruled in favor of the petitioner in Tyler v. Hennepin County, a case examining the practice of home equity theft. The Alliance applauds the Supreme Court for their unanimous decision to protect 94-year-old Geraldine Tyler from the unjust Minnesota tax foreclosure laws that took not only what Ms. Tyler owed in taxes but also all her equity. Property ownership is one of the most significant paths to building equity and financial security in America. Homeowners’ entitlement to this equity is one of the most cherished property rights protected by law. If a homeowner unfortunately falls behind on their property taxes, they should not have to worry about the government taking more than what is owed. In March, The Alliance joined the National Association of REALTORS® to file an amicus brief in support of Tyler and the rights and interests of property owners everywhere. The Alliance supports property owners on their path to building equity, and we continue to work to protect that equity after it is accrued. Abolishing home equity theft everywhere it occurs will protect the most vulnerable and safeguard the rights of property ownership for years to come. CONTACT Amber Hord apoamedia@propertyownersalliance.org [rsnippet id="12" name="About APOA and Sign Up for Updates"]

Executive Director Newsletter Q2 2023

By: Colin Allen, Executive Director of the American Property Owners Alliance May 18, 2020

May 18

2020

The American Property Owners Alliance has spent the past few months calling on policymakers to protect property owner rights and make homeownership more accessible for Americans. We’re also focused on sharing information and resources to help home buyers position themselves for financial success throughout the homebuying process. Read more about The Alliance’s recent involvement in the home equity theft debate, supporting legislation to increase the supply of affordable homes, and educating homebuyers during Financial Literacy Month.

Combatting Home Equity Theft

Recently, The Alliance worked in conjunction with the National Association of REALTORS® to oppose home equity theft, a practice currently legal in 12 states and Washington D.C. On April 26, the Supreme Court heard oral arguments in Tyler v. Hennepin County, a Minnesota case examining the practice of home equity theft. The Alliance filed an Amicus Brief emphasizing what is at stake for property owners in this case and the importance of ending an unethical practice. Where home equity theft is legal, the government can take more than what it is owed in property taxes in the instance of foreclosure. Home equity theft affects thousands of Americans each year as has a disproportionate impact on elderly populations. Pacific Legal Foundation—who is defending the petitioner in Tyler v. Hennepin County—found more than $860 million in life savings has been lost to home equity theft in communities across the country. Property ownership is an important path to build wealth and home equity theft leaves individuals at risk of losing the equity they’ve built over a lifetime. We’re calling on policymakers to find solutions that will protect the equity that property owners have built by closing all loopholes that allow home equity theft. Read more about The Alliance’s involvement in the case and the path to end home equity theft.

Supporting Solutions to Put More Homes on the Market

America is facing a severe housing shortage that demands immediate solutions to increase the supply of available homes and curb rising home prices. Right now, there is bipartisan legislation that could expand access to homeownership in communities that need it most. The Neighborhood Homes Investment Act would create new incentives to develop and renovate family homes to address the severe shortage of middle-income housing. Homebuyers deserve a pathway to sustainable homeownership and neighborhood stability – and the NHIA will help achieve that. It’s time for action, learn how policymakers can take action to increase available homes on the market.

Advocating for Financial Education During Financial Literacy Month

Purchasing a home is a significant financial decision that requires preparation, planning, and financial education. From financing resources to budgeting tools and guidance from licensed real estate agents, we’re bolstering financial education and advancing housing policy solutions to set up first-time buyers for success. The American Property Owners Alliance recently partnered with the Douglass Leadership Institute to hold an event in Charlotte, NC gathering industry experts and residents for a conversation on building wealth and preparing for homeownership. We focused on building a positive credit history, strategies for building equity through homeownership, and how to protect the equity you’ve built. Preparing for homeownership begins long before you start looking for a home. Check out our Financial Education Hub to see what free and low cost resources are available to help you achieve your financial goals and how we can increase support for first-time buyers.

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For more updates, news, and resources, follow me on LinkedIn and Twitter. Thank you, Colin Allen, Executive Director [rsnippet id="20" name="American Property Owners Alliance Section Only"]

Stay In-The-Know on Alliance Policy Initiatives: Sign up for The Alliance’s Executive Director newsletter.

Fill out the form below to receive quarterly email updates from Executive Director, Colin Allen, on areas of focus and progress in protecting property ownership.

[rsnippet id="19" name="2023_APOA_CEC_SIGNUPS"]

Retirement Accounts You Should Consider

Saving for retirement doesn’t involve a one-size-fits-all plan. Since every situation is unique, it’s important to look for the retirement account that best lines up with your personal job situation and future goals. Here are some…

Retirement Accounts You Should Consider

By: Rachel Hartman May 04, 2020

May 04

2020

Saving for retirement doesn't involve a one-size-fits-all plan. Since every situation is unique, it's important to look for the retirement account that best lines up with your personal job situation and future goals.

Here are some of the types of retirement accounts you might be eligible to use:

401(k).
Solo 401(k).
403(b).
457(b).
IRA.
Roth IRA.
Self-directed IRA.
SIMPLE IRA.
SEP IRA.
HSA.

Here's a look at how each type of retirement plan works and how to make the most of these long-term savings vehicles. Read the full article in US News [rsnippet id="12" name="About APOA and Sign Up for Updates"]

The American Property Owners Alliance Statement on Implications of Tyler v. Hennepin County Decision

Washington D.C.—On April 26, as the Supreme Court hears oral arguments in Tyler v. Hennepin County, a Minnesota case examining the practice of “home equity theft”, the American Property Owners Alliance (The Alliance) supports the…

The American Property Owners Alliance Statement on Implications of Tyler v. Hennepin County Decision

By: American Property Owners Alliance Apr 26, 2020

Apr 26

2020

Washington D.C.—On April 26, as the Supreme Court hears oral arguments in Tyler v. Hennepin County, a Minnesota case examining the practice of “home equity theft”, the American Property Owners Alliance (The Alliance) supports the petitioner and opposes home equity theft in the 12 states and D.C. where this practice is legal. This follows the Amicus Brief filed by National Association of Realtors® and The Alliance with the Supreme Court of the United States opposing property tax foreclosure laws which allow local governments to keep home equity beyond what may be owed in taxes, interest, and penalties. Property ownership is a significant path to building wealth in America, yet home equity theft places individuals – particularly elderly populations – at risk of losing this investment. In addition to the 13 jurisdictions where this practice is legal, nine states allow for home equity theft in certain situations. Regardless of the ruling in this case, we need legislative solutions that will protect the equity property owners have built by closing all loopholes that allow home equity theft. When unexpected financial hardships occur, families and individuals should not lose the entirety of their home equity to aggressive government actions. CONTACT Amber Hord apoamedia@propertyownersalliance.org [rsnippet id="12" name="About APOA and Sign Up for Updates"]

Preparing for Homeownership: Financial Education

By: American Property Owners Alliance Apr 25, 2020

Apr 25

2020

Buying a home is a significant financial decision that requires careful preparation. Financial education is key to helping you make a property investment that will build your wealth for years to come. The American Property Owners Alliance helps prospective owners like you develop skills that will help you at every step of the home buying process, from determining what you can afford to saving for a downpayment and securing the best mortgage rate. Here are some financial education resources available to you at low or no cost to set you up for financial success at every step of the home buying journey.

Free Financial Education

Many government websites offer free resources on personal finance, such as the Federal Reserve's Consumer Information website offering reliable advice on building and protecting your credit, setting up checking and savings accounts and more. There’s even a guide to all federal financial education resources. Your city and state likely offer free financial education programs and resources, which you can find on official government websites.

Budgeting Tools

Using a savings goal calculator and creating a budget to meet your goal each month can help you understand how long it will take you to save for a down payment. The Financial Literacy and Education Commission offers hundreds of free tools to help you manage your finances, especially when it comes to debt repayment and budgeting. Check out their website to access budget worksheets, tax withholding calculators, and debt repayment calculators that show how long it will take to pay off your debt based on different monthly payment scenarios.

Managing Your Student Debt

Student debt is cited as one of the biggest barriers to homeownership. Understanding your student loan repayment options and the assistance available to you can help you avoid fees and excess interest, putting more money in your pocket for a down payment on a home. The Federal Student Aid resource hub provides a one-stop shop to learn about student loan repayment based on where you are in the process.

Pre-Homeownership Counseling

There are U.S. Department of Housing and Urban Development approved counselors across the country that provide advice on buying a home, renting, defaults, forbearances, foreclosures, and credit issues at low or no cost to homeowners. Learn more about these services and find a housing counselor near you.

Guidance from REALTORS®

Realtors are licensed real estate agents who are held to a higher ethical standard than other brokers or real estate agents. They are members of the National Association of REALTORS ® and have access to housing market insights and data that other agents may not. Once you’ve saved for your down payment and are ready to explore mortgage lending options, a REALTOR® can help you navigate this process and make a smart property investment that will put you in the best position to build wealth. You can use this tool to find licensed REALTORS® in your area.

Join The Alliance

Americans already face growing barriers to homeownership, from low housing supply to rising mortgage rates. Homeownership is a major component of wealth building and upward mobility, and action must be taken now to improve equity in homeownership. This starts with bolstering financial education and advancing housing policy solutions to set up first-time buyers for success. Join The American Property Owners Alliance and follow us on Twitter and Facebook to get ongoing support and updates, no matter where you are in your homeownership journey

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Join Now

How to make your home more energy efficient — and get a tax break too

By: Erica Werner Apr 17, 2020

Apr 17

2020

The Inflation Reduction Act, or IRA, is the most ambitious legislation ever enacted in the United States to combat climate change. Starting this year, homeowners can get new tax credits and rebates for making their abodes better for the environment. The benefits apply to big changes like installing solar panels, or smaller ones like swapping a gas stove for an induction range. The benefits vary depending on your income, and additional benefits may be available where you live, so it’s worth checking with a tax expert, a consumer guide or a credible source like the Congressional Research Service or the Bipartisan Policy Center. Here are some of the ways you can outfit your environmentally smart dream home — often with help from the IRA. Read the full article in The Washington Post [rsnippet id="12" name="About APOA and Sign Up for Updates"]

Congress Has Another Chance to Pass the Neighborhood Homes Investment Act

By: American Property Owners Alliance Apr 17, 2020

Apr 17

2020

Today, about 1.3 million homes are available on the market compared to the 4 million in 2007. America is facing a serious housing shortage that demands immediate solutions to increase the supply of available, affordable homes. Right now, there is bipartisan legislation that, if passed, would expand access to homeownership in communities that need it most. Reintroduced this March and cosponsored by Sens. Todd Young (R-IN), Ron Wyden (D-OR), Jerry Moran (R-KS) and Sherrod Brown (D-OH), the Neighborhood Homes Investment Act (NHIA) would create 500,000 available homes to help close the supply-demand gap for moderately-priced housing. Last year, The Alliance amplified voices across America to put pressure on Congress to pass the NHIA in year-end legislation. Our campaign resulted in 1,086 individuals taking action, leading to a total of 4,170 interactions with members of Congress via an email or tweets. Though the NHIA did not pass in 2022, it is back on the table this year and we’re encouraging Americans once again to advocate for this crucial pro-housing policy.

What is the Neighborhood Homes Investment Act?

The NHIA would create new incentives to develop and renovate family homes—a critical solution to address the severe shortage of middle-income housing. This solution helps close the gap in housing supply and demand while also strengthening communities. The passage of this solution will support multiple sectors of the economy by spurring billions of dollars in development activity, wages and salaries, and federal, state and local tax revenues. It also supports upwards of 33,000 construction- and construction-related jobs.

Why It’s Time for Action

Across the country, empty or poorly maintained homes contribute to declining property values. In many neighborhoods, it often costs more to build or renovate a house than what the property would sell for. Instead of abandoning these homes altogether, the NHIA would provide builders with the tools they need to bring more affordable homes to the market. Homebuyers deserve a pathway to sustainable homeownership and neighborhood stability. By passing the NHIA, we are one step closer to achieving just that. This pro-housing policy can help improve access to affordable homes in your community and across America. Right now, we can amplify our voices to make sure the new Congress hears us loud and clear. The Alliance is here to help current and future homeowners access a property that meets their needs, and to help you navigate the decisions that are still on the table to do so. As Americans face economic uncertainty, we must protect the rights of current property owners and ensure access to ownership opportunities for potential buyers.

Executive Director Newsletter Q1 2023

By: Colin Allen, Executive Director of the American Property Owners Alliance Mar 17, 2020

Mar 17

2020

Over the last two months, the housing market continues to shift. The current landscape poses challenges for buyers and sellers at all stages in the homeownership journey. With low availability of homes on the market coupled with rising mortgage rates, buyers face challenges. As the cost of living continues to rise, renters and homeowners alike are facing economic obstacles. Read below for ways that The Alliance is involved in addressing the housing supply and affordability crisis, advocating on behalf of property owners, and restoring tax incentives for homeowners.

Tackling the Housing Supply & Affordability Crisis

The housing affordability crisis remains top of mind for buyers, housing providers, and current owners. Across the nation, there’s a missing middle of housing - or lack of diverse housing options beyond single family homes and large apartment buildings convenient to public transportation and other community services. The Alliance is working to make housing more affordable and accessible while protecting property rights and continuously advocating for policies that will alleviate the crisis. Proposals like rent control ordinances decrease the supply of low- to mid-range housing units over time because developers are less likely to build in rent-controlled areas. Policies supporting rent control also place a large financial burden on small housing providers, creating additional challenges to maintain buildings and invest in updates on top of current inflation. The Alliance supports more effective and sustainable alternatives for closing the missing-middle gap such as modernizing zoning and creating new tax credits so builders can quickly increase housing stock and turn unused office spaces into residential units creating more affordable properties for renters and buyers. From housing grants to new incentives to build and rehabilitate middle income homes, solutions exist, and we’re committed to pushing for ways to make homes more affordable. Read more about our thoughts on the rent control discussion and about three solutions to increase access to homeownership and revitalize communities.

Advocating for Property Owners

As an alliance committed to protecting the interests of current and aspiring property owners, we recently joined the National Association of REALTORS® and a host of other organizations to oppose property tax foreclosure laws which allow local governments and private businesses to keep home equity beyond what is owed in taxes, interest, and penalties rather than returning that equity to the original owner. Homeownership is one of the best tools to build equity and wealth. We denounce the unconstitutional practice of home equity theft, meaning the unfair collection of home equity above what is owed in unpaid property taxes as part of a foreclosure settlement, as it strips families of significant savings and wealth built through property ownership. Property ownership strengthens our communities and boosts the economy. Read more about our request to the Supreme Court to protect property owners and their financial security.

Coming Up: Tax Season

Tax season is here, and some policies to propose a national sales tax on the use or consumption of taxable property or services have been introduced through the Fair Tax Act of 2023. The Fair Tax Act would restructure the nation’s tax system and significantly increase the national debt. While this bill would eliminate the IRS and the income tax, it would impose a 23%, or higher, tax on your home at the time of sale. As an alliance committed to protecting property owners’ rights, we have serious concerns with the potential impacts of this Act. Learn more about this legislative proposal.

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For more updates, news, and resources, follow me on LinkedIn and Twitter. Thank you for your time, Colin Allen, Executive Director [rsnippet id="20" name="American Property Owners Alliance Section Only"]

Stay In-The-Know on Alliance Policy Initiatives: Sign up for The Alliance’s Executive Director newsletter.

Fill out the form below to receive quarterly email updates from Executive Director, Colin Allen, on areas of focus and progress in protecting property ownership.

[rsnippet id="19" name="2023_APOA_CEC_SIGNUPS"]

Addressing America’s Housing Crisis Requires Long-Term Solutions

By: Colin Allen, Executive Director of the American Property Owners Alliance Mar 17, 2020

Mar 17

2020

Throughout the country, a shortage of middle-income housing and affordable rentals is limiting Americans’ ability to build their savings and pursue property ownership. As inflation rises and large investors drive up rental prices for the sake of profit, America’s housing crisis will only continue to escalate if Congress doesn’t step in immediately. With the 118^th Congress sworn in and eager to enact change, it is important to choose a sustainable path that will ensure home purchase and rental prices remain affordable for years to come. While many solutions are on the table, some are short-sighted and don’t address the heart of the issue—we need to build more housing. Rent control has been proposed as a solution to curb the problem of housing affordability. However, several case studies prove that rent control is an ineffective, band-aid solution that ultimately decreases the supply of affordable rentals over time and shifts the financial burden of lower rent to mom-and-pop housing providers. The reality is, developers are reluctant to build in rent-controlled areas because of limited return on investment, which decreases the supply of low- to mid-range housing units. In areas where rent control is newly imposed, large-scale investors have proven likely to convert rentals to owner-occupied condominiums, further constraining rental supply. In a survey examining the effects of the 1994 rent control expansion in San Francisco, buildings where rent control was imposed were 8 percentage points more likely to be converted to higher-end, owner-occupied condominium housing than the non-rent controlled property control group. As a result of these high rental prices, fewer tenants lived in rent-controlled buildings, small multi-family housing decreased, and most rental supply catered to higher income households. With a “this is the rent, take it or leave it” mentality, rent control and its supporters continue to reduce supply, heighten demand, undermine quality of life and limit property owners’ ability to make improvements. For example, data spanning periods of change in rent control laws in Cambridge, Massachusetts, found rent control policies imposed about $2 billion in costs on local property owners, yet only $300 million of that cost was passed on to renters in the form of lower rent. The study indicates that rent controlled properties ultimately made the Cambridge housing market and nearby neighborhoods less desirable, and they continue to do so in cities throughout the country. Today, we can achieve a more affordable, navigable housing market by implementing smart policies, unlike the short-sighted option of rent control. These solutions include:

Creating tax credits to convert unused or outdated commercial and office buildings into residential and mixed-use space that will maximize the use of existing properties and create more housing units in urban areas.
As builders have focused on high-end properties with a guaranteed return on investment, middle-income housing and affordable rentals become scarce. We should modernize zoning to remove barriers to different types of home-building.
Increasing the low-income housing tax credit will provide states with more funding which they can then use to incentivize the construction and rehabilitation of affordable rental housing.

As an immediate measure, local governments should consider employing targeted assistance to renters and housing providers to protect the vulnerable when gaps between rising wages and rising rent occur. By pushing forward these smart solutions, Americans can save money, support their households and move one step closer to building equity through property ownership. The American Property Owners Alliance (The Alliance) advocates for the rights of current and future property owners. Our aim is to educate and mobilize citizens in understanding, promoting and influencing the policies that support property owner protections. We understand that we can’t close the property ownership gap overnight. What we can do is work together at the federal, state and local levels to push forward creative, long-term solutions. We’re playing our part in solving America’s housing crisis. It’s time for Congress to do the same.

[rsnippet id="20" name="American Property Owners Alliance Section Only"]

Stay In-The-Know on Alliance Policy Initiatives: Sign up for The Alliance’s Executive Director newsletter.

Fill out the form below to receive quarterly email updates from Executive Director, Colin Allen, on areas of focus and progress in protecting property ownership.

[rsnippet id="19" name="2023_APOA_CEC_SIGNUPS"]

NAR and The American Property Owners Alliance Oppose Home Equity Theft

Washington D.C.—On March 6, National Association of Realtors® (NAR), the American Property Owners Alliance (The Alliance), filed an amicus brief with the Supreme Court of the United States opposing property tax foreclosure laws, which allow…

NAR and The American Property Owners Alliance Oppose Home Equity Theft

By: American Property Owners Alliance Mar 08, 2020

Mar 08

2020

Washington D.C.—On March 6, National Association of Realtors® (NAR), the American Property Owners Alliance (The Alliance), filed an amicus brief with the Supreme Court of the United States opposing property tax foreclosure laws, which allow local governments to keep home equity beyond what may be owed in taxes, interest, and penalties. In Tyler v. Hennepin County, at issue is a Minnesota statute allowing the government to seize a homeowner’s property to satisfy a government debt and keep any surplus from the sale in excess of the debt owed as a windfall rather than rightfully returning it to the homeowner.

Stripping property owners’ equity interest is one of several troubling examples of government encroachment on private property rights that NAR and the Alliance defend against. Rent control measures, eviction moratoria, and tax-foreclosure laws, such as the one at issue in this case, illustrate the increase in government interventions depriving citizens of vested property interests without paying just compensation and why NAR and the Alliance are weighing in, in defense of property owners nationwide.

Property ownership remains one of the most significant ways to build financial security in America. When unexpected financial hardships occur, families and individuals should not lose the entirety of their home equity, no matter the size of the debt. In 14 states, including Minnesota, existing laws allow governments to take homes, land, and excess profits from foreclosures when property owners fall behind on their taxes, a practice known as home equity theft. This unjust, unconstitutional practice strips households of significant savings and wealth often built by individuals and families over a lifetime. In a brief to the Supreme Court, we request that the Court reverse the Eighth’s Circuit’s ruling and uphold constitutionally protected private property rights under the Fifth Amendment. The brief argues the Takings Clause does not permit the government to retain value in excess of an amount owed - taking away vested private property rights of individuals - without paying just compensation. We urge the Court to recognize this direct threat and the increase in government restrictions on private property nationwide by rejecting any attempts to divest property owners of longstanding property interests.

NAR and The Alliance support property owners on their path to building equity, and we continue to work to protect that equity after it is accrued. Abolishing home equity theft will protect the most vulnerable and improve property ownership for years to come.

Read the Amicus Brief.

CONTACT
Amber Hord
apoamedia@propertyownersalliance.org

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Homeowner Tax Deductions for 2023

Tax incentives help current owners protect their investment and make homeownership more accessible for all. When filing this year, make sure you know about these new federal tax credits that will help make homes more…

Homeowner Tax Deductions for 2023

By: American Property Owners Alliance Mar 06, 2020

Mar 06

2020

Download Infographic

Preserving and expanding tax benefits for property owners is a top priority for the American Property Owners Alliance. Click here to see how you can advocate for tax policies that support homeowners and housing providers.

Sign up for updates and we’ll keep you informed on policy changes that impact your investment.

Click Here

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5 Housing Market Myths Debunked

Everchanging headlines, data and predictions make the housing market challenging to navigate. Unfortunately, misconceptions about buying, selling and owning a home remain for many Americans. The Alliance is here to dispel common myths and set…

5 Housing Market Myths Debunked

By: American Property Owners Alliance Feb 23, 2020

Feb 23

2020

Download Infographic

Sign up for emails and follow The Alliance on Facebook, Twitter and LinkedIn to stay updated on the decisions impacting the housing market and our efforts throughout the year.

Click Here

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What Will The Alliance Accomplish in 2023?

By: American Property Owners Alliance Jan 23, 2020

Jan 23

2020

The American Property Owners Alliance (The Alliance) is a nonpartisan, nonprofit that was founded in 2020 to protect the interests of current and aspiring property owners. Property ownership strengthens our communities, boosts the national economy and remains one of the best tools to build wealth. Our grassroots network advances policies that ensure everyone can reap these benefits. Last year was marked by incredible progress for The Alliance. From naming new leadership to growing our network of advocates, the successes of 2022 have strengthened our commitment to protecting and improving property ownership in America.

2022 Highlights

Colin Allen was named as The Alliance’s first executive director. With more than 17 years of policy and legislative experience, Colin brings a wealth of knowledge to this role, leading The Alliance in our mission to advance solutions that address the challenges that current and aspiring property owners face. Shortly after his appointment, Colin joined industry experts in Atlanta for Movin’ On Up!: Preserving Affordability, Parity and Progress in Real Estate for Black Americans. There, he moderated a conversation on the policy changes that can improve access to homeownership. 2022 closed with a major push to pass the Neighborhood Homes Investment Act (NHIA), a solution that would create new incentives for builders to develop and renovate family homes. The NHIA would address the severe shortage of middle-income housing to help close the gap in housing supply and strengthen communities throughout the country. The Alliance led a national campaign to empower individuals to unite their voices in support of the NHIA. This campaign resulted in more than 4,000 emails and tweets sent to members of Congress urging them to pass this critical legislation. While the NHIA did not make it into year-end legislation in 2022, we remain committed to advocating for creative solutions that will address America’s growing housing supply and affordability crisis.

2023 Commitments

As we begin this new year, we’re building on the momentum of 2022 to influence policy changes that will protect property ownership across the U.S. In 2023, we’re focused on growing our network of advocates and supporting creative solutions that will address America’s housing supply and affordability crisis, restore homeowner tax incentives, improve fair housing protections, and back smart infrastructure investments. Think: modernizing zoning to create more middle-income housing and converting unused office buildings into residential and mixed-use spaces. We understand that different solutions may more effectively solve housing challenges in different areas of the country. That’s why we are facilitating discussions around these solutions, to explore which opportunities will not only increase the supply of available homes, but also ensure Americans can access and sustain housing that meets their needs and budget. What’s more, The Alliance will continue to keep current and prospective owners informed on the policy decisions and news impacting their investment. To get involved with The Alliance in 2023, you can join our network and follow us on Facebook, Twitter and LinkedIn.

Stay In-The-Know on Alliance Policy Initiatives: Sign up for The Alliance’s Executive Director newsletter.

Fill out the form below to receive quarterly email updates from Executive Director, Colin Allen, on areas of focus and progress in protecting property ownership.

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The rise of ‘Zoomtowns’ is going to make home prices and rents cheaper for everyone

It’s easy to blame remote workers for the pandemic’s chaotic housing market. Highly paid white-collar employees who exercised their newfound freedom and turned once cheap locales into expensive “Zoomtowns” make for vivid villains. But a…

The rise of ‘Zoomtowns’ is going to make home prices and rents cheaper for everyone

By: James Rodriguez, Business Insider Jan 10, 2020

Jan 10

2020

It's easy to blame remote workers for the pandemic's chaotic housing market. Highly paid white-collar employees who exercised their newfound freedom and turned once cheap locales into expensive "Zoomtowns" make for vivid villains. But a new analysis from the Economic Innovation Group, a bipartisan public-policy organization, argues that, eventually, the shift to working from home may turn into the antidote for the price spikes that we've seen. That's because the places where remote workers are flocking — the Sun Belt region in the Southern US and suburban areas outside big coastal cities — are exactly the kinds of locations that are best-equipped to build cheap housing to absorb the flood of newly remote workers. Read the full article on Business Insider [rsnippet id="12" name="About APOA and Sign Up for Updates"]

What Would It Take to Turn More Offices Into Housing?

By: Emma Goldberg, The New York Times Jan 10, 2020

Jan 10

2020

There’s about 998 million square feet of office real estate across the United States that’s available but in search of a tenant. That’s thousands of old cubicles, conference rooms, pantries and cafeterias sitting in ghostly quiet. That’s a vast amount of empty space — nearly 13 percent of the market — that could be turned into two-bedroom apartments, big-box retailers, boutique hotels, community college classrooms or even studios for artists. At least that is what city governments and developers are discussing with more urgency, as researchers estimate that office value will plunge 39 percent from prepandemic levels. What looks like a catastrophe to many building owners presents an opportunity, a possible catalyst for converting some older office spaces to new uses and transforming downtown neighborhoods into areas where people can also live, especially as the United States faces a deficit of more than three million homes. City and business leaders from New York, Chicago, Philadelphia and Seattle last month began a series of meetings, convened by the Brookings Institution, where they will exchange ideas on re-envisioning the future of their downtown business districts. Read the full article on The New York Times [rsnippet id="12" name="About APOA and Sign Up for Updates"]

Guide to Low-Down-Payment Mortgages

By: Tara Siegel Bernard and Ron Lieber, The New York Times Jan 10, 2020

Jan 10

2020

It’s a perennial question for would-be home buyers: How can I possibly come up with such a huge down payment? The short answer, usually, is you don’t have to. Most first-time home buyers (and even many repeat buyers) don’t have the 20 percent down payment needed to qualify for the lowest mortgage rates and to avoid extra costs like mortgage insurance. Even if you’ve managed to amass a reasonable sum, your down payment doesn’t buy you as much as it would have a year ago — mortgage rates are roughly double what they were then, and home prices haven’t deflated enough to offset those higher costs in many areas. But it’s still possible to lock in your sale with a smaller sum, whether you’re searching for a modest home on a teacher’s salary or financing something with a hefty year-end bonus or gift. Many programs, supported in some fashion by the federal government, allow down payments as low as 3 percent or even no money down. They go by funny names and a collection of abbreviations — Fannie Mae, Freddie Mac, F.H.A., V.A. and U.S.D.A., to name a few. Read the full article on The New York Times [rsnippet id="12" name="About APOA and Sign Up for Updates"]

Congress Needs to Pass the Neighborhood Homes Investment Act

Today, about one million homes are available on the market compared to the 4 million in 2007. America is facing a serious housing shortage that demands immediate solutions to increase the supply of available, affordable…

Congress Needs to Pass the Neighborhood Homes Investment Act

By: American Property Owners Alliance Nov 21, 2020

Nov 21

2020

Right now, there is bipartisan legislation that, if passed, would expand access to homeownership in communities that need it most. The Neighborhood Homes Investment Act (NHIA) would create 500,000 available homes to help close the supply-demand gap for moderately-priced housing.

This pro-housing policy has over 120 bipartisan co-sponsors in the House and Senate, and there is still time for Congress to pass it before the end of the year. The Alliance is amplifying voices across America during this crucial period, putting pressure on policymakers to prioritize the passage of the NHIA.

What is the Neighborhood Homes Investment Act?

The passage of this solution will support multiple sectors of the economy by spurring billions of dollars in development activity, wages and salaries, and federal, state and local tax revenues. It also supports upwards of 33,000 construction- and construction-related jobs.

Why It’s Time for Action

Homebuyers deserve a pathway to sustainable homeownership and neighborhood stability. By passing the NHIA, we are one step closer to achieving just that.

This pro-housing policy can help improve access to affordable homes in your community and across America. Right now, we can amplify our voices to make sure Congress hears us loud and clear. Before the new Congress takes office on January 3, let’s put pressure on current policymakers to prioritize housing supply.

The Alliance is here to help current and future homeowners access a property that meets their needs, and to help you navigate the decisions that are still on the table to do so.

As Americans face economic uncertainty, we must protect the rights of current property owners and ensure access to ownership opportunities for potential buyers.

Despite drop in new home sales, existing owners retain home values

As soaring mortgage rates push potential homebuyers out of the market, new home sales in September dropped by 10.9%, according to government data released Wednesday. But some industry experts say the market isn’t poised for…

Despite drop in new home sales, existing owners retain home values

By: Ahtra Elnashar | The National Desk Nov 04, 2020

Nov 04

2020

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Top Housing Markets This Fall Are Those With Affordable Homes

By: Nicole Friedman | The Wall Street Journal Nov 04, 2020

Nov 04

2020

Home-buying demand remained robust in low-cost cities with strong local economies in the third quarter, helping lift Johnson City, Tenn., to the top of The Wall Street Journal/Realtor.com Emerging Housing Markets Index. Rising mortgage rates have made most home purchases less affordable and pushed many buyers out of the market. Existing-home sales dropped for eight straight months through September. Homes are sitting on the market longer, and more sellers are cutting prices. Buyers’ focus on affordability benefited Johnson City. The metro area’s median listing price was $379,000 in September, up 27% from a year earlier, according to Realtor.com, while median list-price growth nationwide was 14%. Johnson City’s median listing price was $48,000 below the median listing price nationwide last month. The index identifies the top metro areas for home buyers seeking an appreciating housing market, a strong local economy and appealing lifestyle amenities. Read the full article on The Wall Street Journal [rsnippet id="12" name="About APOA and Sign Up for Updates"]

Housing market first-timer? From contingency to foreclosure to housing market predictions, what you should know.

The U.S. housing market has gone from scorching to cooling within months as the momentum is also slowly shifting from a seller’s market to one more favorable to buyers. But some might be unfamiliar with…

Housing market first-timer? From contingency to foreclosure to housing market predictions, what you should know.

By: Terry Collins | USA Today Oct 25, 2020

Oct 25

2020

The U.S. housing market has gone from scorching to cooling within months as the momentum is also slowly shifting from a seller's market to one more favorable to buyers. But some might be unfamiliar with the most commonly used terms in the industry. "The more you know before you jump into either buying or selling a house, the easier it will be," said Kristina O'Donnell, a realtor with Realty One in the Philadelphia area. Read the full article on USA Today [rsnippet id="12" name="About APOA and Sign Up for Updates"]

How to Buy a House

By: Martha C. White | Wall Street Journal Oct 25, 2020

Oct 25

2020

Buying a home is a big accomplishment. It also requires a lot of planning, especially when it comes to your finances. From figuring out how much you can spend to finding the perfect mortgage, making smart decisions upfront can save you thousands of dollars down the road. However, you can make the process a lot easier—and less stressful—by taking the time at the start to answer some of the most important questions you will face. Buying a home is “the biggest expense most households will engage in,” says Mike Schenk, chief economist at the Credit Union National Association. “Before you even think about buying a house, you need to have your financial house in order.” That’s why we’ve put together a three-step guide to buying a home. Read on, and we’ll walk you through the process from setting your budget to choosing a mortgage to actually bidding and closing on a home. Read the full article on The Wall Street Journal [rsnippet id="12" name="About APOA and Sign Up for Updates"]

American Property Owners Alliance Announces Executive Director Appointment

Washington D.C.—The American Property Owners Alliance board has announced Colin Allen’s appointment as the first Executive Director for the organization. The American Property Owners Alliance (The Alliance) is a nonprofit, nonpartisan organization that was launched…

American Property Owners Alliance Announces Executive Director Appointment

By: American Property Owners Alliance Oct 04, 2020

Oct 04

2020

Washington D.C.—The American Property Owners Alliance board has announced Colin Allen’s appointment as the first Executive Director for the organization.

The American Property Owners Alliance (The Alliance) is a nonprofit, nonpartisan organization that was launched in 2020 to protect and support property owners.

Colin will lead The Alliance in its mission to advance and promote solutions to property owners’ challenges. Colin will oversee efforts to educate property owners about federal issues and policies and mobilize a powerful collective of advocates to secure property owners’ rights and interests. His vision is to elevate the voices of Americans to safeguard the value of property ownership for families, communities and the country.

Colin Allen: “Voters of every background all across the country believe in our effort to protect and support property ownership. I look forward to helping current and aspiring property owners get involved in the political process and help them advocate for policies that create opportunity, build family wealth and protect their investment.”

Shannon McGahn: “Colin was an invaluable part of NAR for many years, and we are excited about his leadership of the APOA and his new role advocating for property owners and consumers. NAR and APOA align on many of the same goals and Colin understands the important role property ownership plays in building generational wealth for the American middle class. We look forward to continuing to work with the APOA as we advocate for our members, the real estate economy, consumers, and property owners.”

Colin brings more than 17 years of policy and legislative experience to the Alliance, which he will leverage to educate and mobilize property owners across the country. Prior to this appointment, Colin served as the Director of Government Advocacy and Policy Strategy at The National Association of REALTORS®. There he played a central role in the development and advocacy campaigns supporting homeownership and housing policy. His work focused on the legislative process, where he took an active role in the drafting and advocacy stages of legislation to reform insurance for home and commercial property owners, increase the availability of affordable ownership opportunities through Federal Housing Administration, and provide relief to independent contractors and small businesses.

CONTACT
Amber Hord
apoamedia@propertyownersalliance.org

###

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America Still Needs More Homes

By: Justin Lahard | The Wall Street Journal Aug 08, 2020

Aug 08

2020

The biggest problem for America’s housing market is that there aren’t enough homes available. The sales slowdown probably won’t do much to alleviate the situation and over time could make it even worse. The National Association of Realtors on Wednesday said 5.12 million previously owned homes were sold in June, at a seasonally adjusted annual rate, down from May’s 5.41 million. It was both the lowest level since the early months of the pandemic and below the prepandemic trend. It reflects just how much the affordability problem, driven by the sharp rise in mortgage rates and sky-high home prices, is weighing on sales. What is needed is for housing to somehow become more affordable. Read the full article on The Wall Street Journal [rsnippet id="12" name="About APOA and Sign Up for Updates"]

Homeowner Assistance Fund

By: NCSHA Jul 27, 2020

Jul 27

2020

The Homeowner Assistance Fund (HAF) is a $9.961 billion federal program to help households who are behind on their mortgages and other housing-related expenses due to the impacts of COVID-19. The HAF program is overseen by the U.S. Treasury Department and administered by the states, territories, and tribes. Nearly every state and territory has launched their HAF programs, and the others are working diligently to get their programs approved and up and running quickly. To help homeowners sooner, some states have been administering pilot assistance programs while they finalize their full HAF programs. Visit the link to find help. Read more [rsnippet id="12" name="About APOA and Sign Up for Updates"]

Why homeownership is becoming incredibly tough for young people

By: Adam Barnes | The Hill Jul 20, 2020

Jul 20

2020

Homeownership remains a key benchmark for younger Americans, yet many encounter numerous hurdles immediately upon entering the market. Some need help from their parents to meet basic down payments to qualify for a mortgage, while all enter right into a housing market where inventory is historically low. First time homebuyers deal with these issues while facing rising inflation, growing interest rates, and a supply crunch that leaves them wading through an ultra-competitive market in search of housing suitably priced for first-time owners. Despite the drastic changes in the housing market and the strains of inflation, recent polling shows most American adults view homebuying as a hallmark of the American dream. Around 65 percent of Millennials and 59 percent of those in Gen Z put homeownership as a fundamental marker of success. But their main barrier is affordability, whether due to their own incomes or the cost of a home. Read the full article on The Hill [rsnippet id="12" name="About APOA and Sign Up for Updates"]

Something Old, Something New: Biden’s Housing Plan

By: Meir Rinde | ShelterForce Jul 06, 2020

Jul 06

2020

President Joe Biden released a far-reaching Housing Supply Action Plan in May that announces or proposes dozens of measures meant to sharply boost housing production. They include incentives for local zoning reform, new financing products from Freddie Mac and Fannie Mae, budget hikes for federal programs like HOME and LIHTC, efforts to promote manufactured housing and accessory dwelling units (ADUs), supply chain improvements, and increased recruitment of construction workers. While many of the items would improve access to affordable housing for low-income people, the document is billed as a plan to spur home construction across the board. Read the full article on ShelterForce [rsnippet id="12" name="About APOA and Sign Up for Updates"]

3 ways rising property values are actually bad for homeowners

As the value of homes rise, many empty nesters are faced with a difficult financial dilemma: stay in a home that’s too large and costly to maintain, or purchase a smaller — but just as…

3 ways rising property values are actually bad for homeowners

By: Holly Johnson | Business Insider Jul 01, 2020

Jul 01

2020

As the value of homes rise, many empty nesters are faced with a difficult financial dilemma: stay in a home that's too large and costly to maintain, or purchase a smaller — but just as expensive — home, on top of rising interest rates. Learn why rising property values aren't always positive. Read the full article on Business Insider [rsnippet id="12" name="About APOA and Sign Up for Updates"]

3 Property Rights Worth Protecting

By: American Property Owners Alliance Jun 28, 2020

Jun 28

2020

Property ownership is an investment worth protecting. The constant flow of news makes it hard to stay up to date on the important policies and decisions that impact this investment. The American Property Owners Alliance is here to help. The Alliance cares about the unique challenges current and aspiring property owners face and works to safeguard their interests by protecting the following rights.

Right to Improve Property

Owning property gives you the opportunity to design and decorate your space any way you like. The Alliance believes a property owner has the right to alter property, so long as you respect your neighbors, bring no harm to others and abide by the law. In keeping with local business codes, you have the right to use the floor plan, measurements, design tools and contractors of your choosing. The Alliance recently advocated for property owners in a ruling jeopardizing their right to use their home’s floor plan to complete necessary repairs or that dream remodel they worked so hard for. This is just one of the ways in which The Alliance advocates for property owners’ rights.

Right to Pay Fair Share in Taxes

Taxes are meant to benefit property owners because they support a range of community benefits—from supporting local infrastructure to making communities safer. Tax incentives also make property ownership more accessible and sustainable through mortgage interest deductions and state and local property tax deductions that make owning a home more affordable. Tax incentives for homeowners have been chipped away in recent years, which means the tax burden on property owners has grown. The Alliance believes property owners are valuable to communities and the country and have the right to pay their fair share in taxes. We’re advocating to restore tax incentives for property owners in order to protect current and aspiring owners, and to ensure communities continue to reap the benefits of property ownership.

Right to be Informed

Americans have the right to be informed of policy changes impacting their investment or access to property ownership. This way, property owners can raise their collective voice and have a say in these decisions. The Alliance is committed to helping you do both. Sign up for emails and bookmark our News and Resources webpage to stay updated on policy changes and the topics you care about most: housing affordability, fair housing, taxes, infrastructure and more. Then, sign our petition urging decision makers to prioritize support for property owners once again. [rsnippet id="15" name="Global Article Footer - APOA Blog July"]

A Proclamation on National Homeownership Month, 2022

For many Americans, a home is more than just a residence. It is a place that instills a sense of pride, security, and comfort that, no matter what challenges in life arise, they have somewhere…

A Proclamation on National Homeownership Month, 2022

By: The White House Jun 21, 2020

Jun 21

2020

For many Americans, a home is more than just a residence. It is a place that instills a sense of pride, security, and comfort that, no matter what challenges in life arise, they have somewhere to go and call their own. Whether owning or renting, a home is where we can live with dignity and watch our families grow. During National Homeownership Month, we recognize the importance of housing and reaffirm our commitment to ensuring that everyone has a place to call home. Homeownership is a major source of generational wealth for many Americans — it is a central part of the American dream. But for too many Americans — especially Black and Brown Americans — homeownership and the opportunity to build and pass down wealth through it are unattainable. Longstanding inequities in the housing system, from disinvestment to redlining and mis-valuation of homes in communities of color, have locked out entire generations from the American dream and the opportunity to build generational wealth. Housing also opens up opportunities that are tied to where one lives, and it is our shared responsibility to ensure that everyone has equitable access to those opportunities — from education and stable employment to quality health care and healthy food. As we mark National Homeownership Month, we recognize the importance of housing for all Americans. Whether owning, renting, or aspiring to do either, we renew our commitment to lowering costs and expanding access to safe, affordable homes that all Americans need and deserve. Together, we can ensure that every American has a safe place to call home. Read the full article on WhiteHouse.gov [rsnippet id="12" name="About APOA and Sign Up for Updates"]

The U.S. needs more homes, but builders may be slowing construction

Rising interest rates and record home prices are making it impossible for many Americans to buy a house, and that’s making builders less confident that if they build a home they’ll be able to sell…

The U.S. needs more homes, but builders may be slowing construction

By: Jacqueline Ganun | NPR Jun 16, 2020

Jun 16

2020

Rising interest rates and record home prices are making it impossible for many Americans to buy a house, and that's making builders less confident that if they build a home they'll be able to sell it. A new poll conducted by the National Association of Home Builders shows builder confidence in the market for new single-family homes is at its lowest level since June 2020 after six straight months of decline, "a clear sign of a slowing housing market in a high inflation, slow growth economic environment," NAHB Chairman Jerry Konter said. Read the full article on NPR [rsnippet id="12" name="About APOA and Sign Up for Updates"]

The New Math of Reverse Mortgages for Retirees

By: Lori Ioannou | The Wall Street Journal Jun 03, 2020

Jun 03

2020

Reverse mortgages, maligned for years as loans of last resort for struggling seniors, have gotten a makeover. For decades the industry’s image was tainted by horror stories about borrowers who faced foreclosure, and surviving spouses who were evicted. But today, these products—first introduced in 1961—have evolved into tools that, with federal insurance and oversight, often do what was originally intended: ease financial burdens for retired homeowners with limited incomes who want to stay in their homes until death. Read the full article on The Wall Street Journal [rsnippet id="12" name="About APOA and Sign Up for Updates"]

Skyrocketing Home Costs Spur Fed, State Aid to First-Time Buyers

By: Alex Wolf | Bloomberg Law May 24, 2020

May 24

2020

Federal officials and state lawmakers are looking at new ways to help prospective home buyers compete with investors for scarce housing in hot real estate markets. Federal and state regulators are eyeing steps to make prospective first-time buyers better able to compete for homes. Lawmakers in California and New Jersey, among others, have proposed boosting down-payment assistance funds for first-time buyers, taxing investors who flip residential real estate, and giving owner-occupants greater leverage to purchase foreclosed homes. Read the full article on Bloomberg Law [rsnippet id="12" name="About APOA and Sign Up for Updates"]

Why it’s so hard to buy a home right now

Home prices have skyrocketed by nearly 20% over the last year and mortgage rates have risen faster over the past three months than they have in decades. But the high cost to buy a home…

Why it’s so hard to buy a home right now

By: Anna Bahney | CNN Apr 28, 2020

Apr 28

2020

Home prices have skyrocketed by nearly 20% over the last year and mortgage rates have risen faster over the past three months than they have in decades. But the high cost to buy a home is not the only obstacle prospective buyers are facing. Other hurdles include a lack of available homes for sale that fit the buyer's criteria, bidding wars, and failing to have enough money for a down payment, according to a new study from the National Association of Realtors and Morning Consult. Read the full article on CNN [rsnippet id="12" name="About APOA and Sign Up for Updates"]

Property Ownership Benefits Us All

By: American Property Owners Alliance Apr 19, 2020

Apr 19

2020

Property ownership is an investment in yourself and your community — in more ways than you might realize. Property owner tax dollars invest in communities, but that’s only part of the story: research shows that property ownership provides a range of social benefits, including increased volunteerism, improved health, and less crime. These benefits are the reason The American Property Owners Alliance believes federal policies should do a better job of supporting property owners and incentivizing property ownership. The positive impact of property ownership is far reaching. Learn how it benefits you, your community, and the economy — and why it’s worth protecting.

You

Owning property gives you the freedom to live comfortably in a space that meets your needs. Rather than making rental payments that don’t invest for yourself, owning property helps you build wealth. According to a study conducted by the National Association of Realtors, the typical homeowner accumulated $176,123 in home equity in a span of 10 years on a median-priced single-family home.1 Homes are more valuable now than they’ve been in a long time. A recent analysis by Zillow marked the first time that homeowners earned more from appreciation of their home than their jobs in 2021.2 Purchasing a home is a big investment, but it’s a smart one.

Your Community

The community benefits of homeownership are far-reaching. Homeowners directly invest in their community through property taxes, which contribute to local schools, first responders, public parks, infrastructure like roads and bridges, and more. The value of a home is tied to the value of the neighborhood — which means homeowners are motivated to help improve their community. The National Association of Realtors found that homeowners are more likely to upkeep their homes and yards than renters, raising property values and improving the state of neighborhoods and communities.3 Homeowners also tend to volunteer more and are more likely to participate in local elections than renters.4

The Economy

The U.S. Census Bureau found that homeowners’ median wealth was nearly 89 times larger than the median wealth of renters.5 With more disposable income, homeowners purchase more local goods and rely on more services within their community, stimulating the economy where they live. This helps create jobs, improve public infrastructure, and helps your community’s economy operate independently of others. Plus, small businesses continue to be major drivers of the U.S. economy as a whole.6

The American Property Owners Alliance is an ally to property owners and works to advance public policies that support ownership throughout the United States. We serve as a trusted resource for property owners by providing timely, accurate information to help them safeguard their interests. We believe that the dream of homeownership is worth protecting. If you agree, we encourage you to add your name to our petition.

Join The Alliance

1 National Association of Realtors 2 Zillow 3 National Association of Realtors 4 National Association of Realtors 5 U.S. Census Bureau 6 U.S. Small Business Administration Office of Advocacy

As mortgage rates keep climbing, homes are more expensive for both renters and buyers

One of the advantages to buying a home is that mortgage payments can be cheaper than renting — provided you have enough money saved up to afford a down payment and other costs of being…

As mortgage rates keep climbing, homes are more expensive for both renters and buyers

By: Mike Winters | CNBC Apr 19, 2020

Apr 19

2020

One of the advantages to buying a home is that mortgage payments can be cheaper than renting — provided you have enough money saved up to afford a down payment and other costs of being of a homeowner. However, even though U.S. rent prices surged in the last year, that rent growth has been outpaced by rising mortgage payments in recent months as home prices continue to rise. Read the full article on CNBC [rsnippet id="12" name="About APOA and Sign Up for Updates"]

We All Play a Role in Achieving Fair Housing

By: American Property Owners Alliance Apr 13, 2020

Apr 13

2020

April is National Fair Housing Month, a time when we celebrate the passage of the Fair Housing Act in 1968 and recognize progress towards ending housing discrimination in America. It’s also a time to think about how we can work together to achieve our shared goal of fair housing—where we can all access the housing we desire in communities that welcome us. Keep reading to learn about four organizations that are making strides to improve housing access—and see how you can join the effort to achieve fair housing. NeighborWorks America is a nonpartisan nonprofit that creates opportunities for people to live in affordable homes, improve their lives and strengthen their communities. NeighborWorks supports a network of nearly 250 organizations nationwide that help people access sustainable homeownership. Lee Anne Adams, Senior Vice President of National Initiatives at NeighborWorks America, explains, “To overcome the longstanding and growing inequities in our communities, we need to reach common goals and align resources across sectors to make an impact.” NeighborWorks’ network of organizations offers a range of services from financial coaching and pre-purchase counseling to homebuyer education, down payment assistance programs, and affordable first mortgage products. NeighborWorks’ impact nationally in 2021 includes its network investing more than $16.8 billion in their communities, creating and/or maintaining 49,000 jobs, and providing more than 470,000 housing and counseling services. Louisiana Fair Housing Action Center (LaFHAC) is a nonprofit civil rights organization that has been fighting against discrimination in housing since 1995. LaFHAC provides free legal representation to people who have experienced discrimination and challenges discriminatory policies and practices in the housing market. When asked why equitable access to housing is so important, Cashauna Hill, Executive Director of the Louisiana Fair Housing Action Center, explains, “Where we live influences nearly every aspect of our lives. Our zip code determines everything from whether we have access to fresh food and produce to how long we’ll have to wait for public transit, to even how long we’ll live. Equitable access to housing is important because where we live determines how or whether we’ll have access to opportunity.” The Fair Housing Justice Center (FHJC) is a nonprofit civil rights organization that serves all five boroughs of New York City and seven surrounding New York counties. FHJC works to eliminate housing discrimination by promoting policies that foster inclusive communities and strengthening the enforcement of fair housing laws. In addition to assisting people who file housing discrimination complaints, FHJC conducts proactive systemic testing investigations to identify patterns of housing discrimination that exist in the community. “Our investigations have led to legal challenges that have opened more than 70,000 housing units to previously excluded populations, recovered more than $53 million in damages and penalties, and changed the way many housing providers and government agencies do business,” explains Executive Director of the Fair Housing Justice Center, Elizabeth Grossman. Fair Housing Center of Central Indiana (FHCCI) is a nonprofit fair housing organization that works to create equal housing opportunities in Central Indiana through advocacy, enforcement, education, and outreach. FHCCI was established in 2012 through a U.S. Department of Housing & Urban Development grant awarded to the National Fair Housing Alliance to establish a fair housing agency in central Indiana. When asked what the future of fair housing looks like, Amy Nelson, the Executive Director of Fair Housing Center of Central Indiana, explains, “Truly achieving fair housing requires the full attention and support of the federal government, the courts, and all of us. Fair housing laws have never had funding or the strength of will to truly address our nation’s history of discriminatory practices that still impact our neighborhoods and our country today. I remain hopeful we can achieve the vision of fair housing laws that allows each person to have equal housing opportunity.”

The American Property Owners Alliance (The Alliance) convenes current and aspiring property owners and housing organizations to create a unified voice for policymakers to hear. We take action to expand policies and programs that promote equitable access to homeownership. Click here to sign-up for action alerts so you can advocate with us!

If you believe you have experienced discrimination in renting or buying a home, getting a mortgage, or other housing-related activities because of your race, color, national origin, religion, sex, familial status, or disability—click here to learn how to file a complaint with HUD. HUD will investigate your complaint for free.

With housing stock low and prices up, Black, white homeownership gap growing | Opinion

A former Trump deputy assistant and the first Black mayor of Columbia S.C. say the gap between Black and white home ownership is larger now than when housing discrimination was legal. For generations, owning a…

With housing stock low and prices up, Black, white homeownership gap growing | Opinion

By: Ja’Ron Smith and Steve Benjamin, The Columbus Dispatch Apr 07, 2020

Apr 07

2020

A former Trump deputy assistant and the first Black mayor of Columbia S.C. say the gap between Black and white home ownership is larger now than when housing discrimination was legal. For generations, owning a home — especially a first home — was a rite of passage for many Americans. The home you purchased was a place to raise a family, a sanctuary after a long day at work, and the backdrop to life’s most precious memories. A home also served as a critical investment in creating generational wealth. It was and remains a source of pride and dignity for the American family. Today, however, the possibility of owning a home is harder to come by, especially for Black Americans. The gap between Black and white Americans who own homes is larger today than when housing discrimination was legal — and it continues to grow.

Read the full article on The Columbus Dispatch

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American Property Owners Alliance Supports Appeal of Ruling on Homeowners’ Use of Floor Plans

Appellate Court ruling could prevent homeowners from using floor plans for appraisals, tax assessments WASHINGTON (April 05, 2022) – The American Property Owners Alliance (The Alliance) supports the effort to appeal the Eighth Circuit Court…

American Property Owners Alliance Supports Appeal of Ruling on Homeowners’ Use of Floor Plans

By: American Property Owners Alliance Apr 05, 2020

Apr 05

2020

Appellate Court ruling could prevent homeowners from using floor plans for appraisals, tax assessments

WASHINGTON (April 05, 2022) - The American Property Owners Alliance (The Alliance) supports the effort to appeal the Eighth Circuit Court of Appeals ruling in Designworks Homes, Inc. v. Columbia House of Brokers Realty, Inc. to the U.S. Supreme Court. The Appellate Court decision means homeowners may be found liable for copyright infringement for using a reproduction of the floor plan of their home —including a copy or even a sketch of the floor plan—without authorization from their architect. This includes the use of floor plan reproductions or use of floor plan measurements in appraisals for mortgages, tax assessments, property evaluation documents, insurance documents, or home improvements. “Property owners have the right to use the floor plan and measurements of their property as they see fit,” said American Property Owners Alliance President, Jim Imhoff. “The Eighth Circuit ruling is a direct threat to that right and we support giving the Supreme Court the opportunity to reverse the Appellate Court’s misguided decision.” The Eighth Circuit Court ruling is deeply unpopular, according to an online survey of 1,029 homeowners who voted in the 2020 Presidential election. The survey was conducted by The Alliance from March 15-20, 2022 and has a margin of error +/- 3%. The survey found:

71% of respondents strongly agree you have the right to do what you want with your property, as long as you respect your neighbors, don’t harm others, or break the law.
85% of respondents strongly agree you have the right to remodel or renovate the inside of your home as you see fit, consistent with local building codes where applicable.
89% of respondents strongly agree homeowners should be able to create a floorplan of their home anytime they want, and select whomever they want to fulfill that task.
83% of respondents strongly agree the owner of a home has the right to use the measurements of the inside of that home, along with online design tools, to ensure that new furniture and appliances would fit before making those significant purchases.

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Mortgage rates rise above 4% for the first time since 2019

Mortgage rates climbed past 4% for the first time since May 2019. All these factors will continue to push mortgage rates higher in the months ahead. That means one of the main drivers of home…

Mortgage rates rise above 4% for the first time since 2019

By: CNN Apr 05, 2020

Apr 05

2020

Mortgage rates climbed past 4% for the first time since May 2019. All these factors will continue to push mortgage rates higher in the months ahead. That means one of the main drivers of home sales over the past two years -- super low mortgage rates -- is drying up. At today's rates, the monthly mortgage for a buyer of a median-priced home will be more than $340 higher than it was a year ago.

Read the full article on CNN

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Planning to buy a home in the spring? Some new mortgage rules may affect your purchase

Some adjustments have been made in response to such events as the pandemic-associated economic crisis. Here are the new rules that you should know about before applying for a loan. Read the full article on…

Planning to buy a home in the spring? Some new mortgage rules may affect your purchase

By: The Washington Post Apr 05, 2020

Apr 05

2020

Some adjustments have been made in response to such events as the pandemic-associated economic crisis. Here are the new rules that you should know about before applying for a loan.

Read the full article on The Washington Post

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Homes Earned More for Owners Than Their Jobs Last Year

Home values surged last year as low mortgage-interest rates stoked buyer demand and the number of homes on the market remained unusually low. Collectively, U.S. homeowners with mortgages gained more than $3.2 trillion in equity…

Homes Earned More for Owners Than Their Jobs Last Year

By: Wall Street Journal Apr 05, 2020

Apr 05

2020

Read the full article on Wall Street Journal

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4 Lesser-Known Tax Deductions for Landlords

By: American Property Owners Alliance Mar 31, 2020

Mar 31

2020

The Alliance is here to help housing providers take advantage of the tax benefits available to them when filing this year. Whether you own one rental property or dozens, these tax deductions can help you keep more money in your pocket. Most rental property owner deductions can be claimed in Form 1040 and filed with your regular annual tax return.

Pass-Through Deduction

Certain landlords who are owners of sole proprietorships, partnerships, S corporations and certain trusts may deduct up to 20% of their net rental income from their income taxes if their rental activity rises to the level of a business instead of an investment. Owners of rental property who spend at least 250 hours per year on the property or properties may also qualify. This deduction is set to be available from 2018 through 2025—take advantage of it while you can!

Advertising Costs

Owners of rental property can deduct expenses that help you bring in new tenants and keep existing ones. This includes “For Rent” signs, newspaper ads, digital advertising and more.

Legal and Professional Services

Owners of rental property may deduct fees paid to attorneys, accountants, advisors, and other professionals incurred from buying and maintaining the property.

Travel and Transportation

Owners of rental property can deduct travel expenses incurred when traveling to their rental building to deal with a current tenant complaint or to locations related to maintaining the property — this includes the hardware store! These 4 lesser-known deductions can help save you money this tax season, but don’t forget to claim deductions for utility, insurance, and repair costs when you file as well.

Preserving and expanding tax benefits for property owners is a top priority for the American Property Owners Alliance. Sign our petition to advocate for tax policies that support homeowners.

Sign up for updates and we’ll keep you informed on policy changes that impact your investment.

Click Here

Homeowner Tax Deductions for 2022

Tax incentives help current owners protect their investment and make homeownership more accessible for all. Here are some key tax provisions that you should be aware of when filing this year. Preserving and expanding tax…

Homeowner Tax Deductions for 2022

By: American Property Owners Alliance Mar 30, 2020

Mar 30

2020

Tax incentives help current owners protect their investment and make homeownership more accessible for all. Here are some key tax provisions that you should be aware of when filing this year.

Download Infographic

Sign up for updates and we’ll keep you informed on policy changes that impact your investment.

Click Here

[social_warfare]

American Property Owners Alliance: Honoring Influential Women in Housing

By: American Property Owners Alliance Mar 16, 2020

Mar 16

2020

Throughout America’s history, influential women have shaped the housing opportunities, social services, and vibrant communities we have today. As we celebrate Women’s History Month, The American Property Owners Alliance (The Alliance) is recognizing three female leaders who took a stand to create essential resources for those in need and build diverse and resilient communities.

Catherine Bauer was an influential leader in the fight for affordable housing. Her forward-thinking approach to housing policy led her to be the primary author for America’s first affordable housing legislation — the U.S. Housing Act of 1937. Bauer influenced housing and urban planning strategies throughout the terms of three different United States presidents.1

Patricia Roberts Harris made history as the first African American woman to hold a cabinet position when she was appointed to Secretary of Housing and Urban Development (HUD) in 1977. As HUD Secretary, Harris brought aid to deteriorating neighborhoods and worked to bring business back to impoverished areas.2 Harris was known for her leadership in battling housing discrimination and rehabilitating neighborhoods.

Jane Jacobs was a writer and activist who championed a community-based approach to city planning. In Jacob’s 1961 treatise, The Death and Life of Great American Cities, she claimed, “Cities have the capability of providing something for everybody, only because, and only when, they are created by everybody.”3 Jacobs was known for her innovative approach to building vibrant communities that prioritized parks and public spaces that served the needs of residents.

These are just a few of the influential women who have or are improving America’s housing opportunities through advocacy and forward-thinking policy. It’s up to us to continue the mission to make housing more accessible and equitable. The Alliance is a nonpartisan, nonprofit that advocates for public policies that support property ownership and strengthen communities. If you’re interested in supporting this mission, join our efforts today.

Join Us

[social_warfare]

1 https://labgov.city/theurbanmedialab/catherine-bauer-wurster-hero-of-american-affordable-housing/
2 https://www.historicamerica.org/journal/2021/3/1/a-woman-of-firsts-patricia-roberts-harris
3 https://www.theatlantic.com/magazine/archive/2016/11/the-prophecies-of-jane-jacobs/501104/

Two-thirds of single women say they’re not waiting until marriage to become homeowners, study finds

Single women are also quietly dominating the housing market. About 2 in 3 single women (65%) reported that they would rather not wait until they were married to buy homes, regardless of how old they…

Two-thirds of single women say they’re not waiting until marriage to become homeowners, study finds

By: Jason Lalljee, Business Insider Mar 08, 2020

Mar 08

2020

Read the full article on Business Insider

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New York City’s Property Taxes Are Crushing Homeowners

‘Living Here is Getting More and More Difficult.’ Homes are taxed as a function of their market value across much of the nation, but New York City’s process is more complicated and problematic than most.…

New York City’s Property Taxes Are Crushing Homeowners

By: Donna Borak, Bloomberg Mar 08, 2020

Mar 08

2020

'Living Here is Getting More and More Difficult.' Homes are taxed as a function of their market value across much of the nation, but New York City's process is more complicated and problematic than most.

Read the full article on Bloomberg

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Buying a First Home Is Tougher Than Ever in Today’s Market. Here’s What Experts Say It Takes to Be Successful

Home inventory for people who typically qualify as first-time homeowners is at record lows. Still, despite the frustrations of buying your first home in a challenging market, now might be the time to lock in…

Buying a First Home Is Tougher Than Ever in Today’s Market. Here’s What Experts Say It Takes to Be Successful

By: CNBC Feb 14, 2020

Feb 14

2020

Read the full article on CNBC

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Homebuyers Confront an Abnormal Market for Yet Another Year

Home prices are going up, along with mortgage interest rates. Is now the time to buy — before conditions worsen? Read the full article on Yahoo TweetShare [...]Read More...

Homebuyers Confront an Abnormal Market for Yet Another Year

By: Yahoo Feb 14, 2020

Feb 14

2020

Home prices are going up, along with mortgage interest rates. Is now the time to buy — before conditions worsen?

Read the full article on Yahoo

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Homeowners Gain Nearly $225K in Equity Over the Past Decade

Homeownership is seen as the largest source of wealth among families, with the median value of a primary residence worth nearly 10 times the median value of financial assets held by families. Read the full…

Homeowners Gain Nearly $225K in Equity Over the Past Decade

By: theMReport Feb 08, 2020

Feb 08

2020

Homeownership is seen as the largest source of wealth among families, with the median value of a primary residence worth nearly 10 times the median value of financial assets held by families.

Read the full article on theMReport

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What Factors Are Holding Back Black Homeownership?

By: theMReport Feb 08, 2020

Feb 08

2020

Applying for a mortgage is one of the most important applications most will ever fill out in their lifetimes; getting denied because of simple omission can set the process back by weeks. According to a new report by Zillow, the rate at which Black applicants were denied mortgages is 84% higher than white applicants in 2020 (the latest year for which data is available). This is up from the 74% rate seen in 2019.

Read the full article on theMReport

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Student Debt Getting in the Way of Millennial Homeownership

Millennial homeownership is on the rise — but student loan debt is still keeping millions of members of America’s largest generation from owning a home. Buying a house remains the No. 1 way to build wealth…

Student Debt Getting in the Way of Millennial Homeownership

By: Axios Feb 08, 2020

Feb 08

2020

Millennial homeownership is on the rise — but student loan debt is still keeping millions of members of America's largest generation from owning a home. Buying a house remains the No. 1 way to build wealth in the U.S. Due to their sheer numbers, millennials are the largest group buying homes right now, but their rate of homeownership lags behind previous generations.

Read the full article on Axios

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Homeowner Assistance Fund Applications Are Now Being Accepted in Many States — Here’s How To Apply

Homeowners who need financial assistance with their mortgages and other housing-related expenses can apply for help via the Homeowner Assistance Fund (HAF), a federal program designed to help households who have fallen behind due to COVID-19.…

Homeowner Assistance Fund Applications Are Now Being Accepted in Many States — Here’s How To Apply

By: GoBankingRates Feb 08, 2020

Feb 08

2020

Read the full article on GoBankingRates

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December Marks 3rd Straight Month of Growth for Us Builders

Construction of new homes in the U.S. rose for the third consecutive month in December and data released Wednesday suggests that the frantic pace of building will continue this year. Read the full article on…

December Marks 3rd Straight Month of Growth for Us Builders

By: AP News Feb 08, 2020

Feb 08

2020

Construction of new homes in the U.S. rose for the third consecutive month in December and data released Wednesday suggests that the frantic pace of building will continue this year.

Read the full article on AP News

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What Will the 2022 Housing Market Look Like? It Could ‘Come Back Down to Sanity’

The Covid-19 pandemic upended the home-buying process. Historically-low mortgage rates coupled with an inventory shortage created a red hot market with houses selling within hours of being listed, often for well over asking price. Read the…

What Will the 2022 Housing Market Look Like? It Could ‘Come Back Down to Sanity’

By: CNBC Feb 08, 2020

Feb 08

2020

Read the full article on CNBC

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Understanding the Homeowner Assistance Fund (HAF)

On or around August 2, 2021, the Treasury Department issued guidance for the Homeowner Assistance Fund (HAF), pursuant to section 3206 of the American Rescue Plan Act of 2021. Under the Homeowner Assistance Fund, the…

Understanding the Homeowner Assistance Fund (HAF)

By: DSNews Jan 26, 2020

Jan 26

2020

On or around August 2, 2021, the Treasury Department issued guidance for the Homeowner Assistance Fund (HAF), pursuant to section 3206 of the American Rescue Plan Act of 2021.

Under the Homeowner Assistance Fund, the Treasury Department will provide financial assistance in an aggregate amount of approximately $9.961 billion. The $9.961 billion will be distributed to the states and run at state level. Some states are using the funds that they have received to run pilot programs. As of today, approximately 18 states have pilot programs up and running.

Read the full article on DSNews

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Millennials Are Supercharging the Housing Market

By: Wall Street Journal Dec 15, 2020

Dec 15

2020

Alex and Michelle Angert lived the last years of their 20s without a permanent address. They moved out of a small Manhattan apartment in 2018 to stay in short-term rentals around the U.S. before embarking on a yearlong honeymoon to travel the world, starting in the Philippines.

When the pandemic cut their travels short last year, Mr. Angert, 31, decided to take a job in public relations in Richmond, Va. He and Mrs. Angert, who is also 31 and works at a healthcare tech company, started house hunting this spring. After losing out on multiple offers, they raised their $400,000 budget. In July, they plunked down $635,000 on a three-bedroom ranch in a tree-filled lot near a Richmond country club.

“I would have had all of these regrets in life if I didn’t travel,” Mr. Angert said. “But it feels like the right time to settle down and put down some roots.”

Read the full article from Wall Street Journal.

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Financial Education Is Key To Smoothing The Home-Buying Process For First-Time Buyers

By: Forbes Magazine Dec 10, 2020

Dec 10

2020

Homeownership is the “American Dream” handed down from generation to generation, and millennials have taken the baton. In its annual homebuyers report, the National Association of Realtors stated millennials (those currently aged 22-40) have been the largest share of homebuyers since its 2014 report. Of homebuyers surveyed, they accounted for 37% of those who bought homes between July 2019 and June 2020.

However, a separate survey of about 2,650 U.S. adults found that 64% of millennial respondents who bought into homeownership regretted their decision. Their biggest regret was not being prepared for home maintenance costs.

Read the full article from Forbes.

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The Housing Affordability Crisis and the Solutions We Need Now

Housing is a basic human need, yet affordable housing is increasingly difficult for Americans to attain. Why is there a shortage of affordable homes? And how we can work together to bring solutions that will…

The Housing Affordability Crisis and the Solutions We Need Now

By: American Property Owners Alliance Oct 20, 2020

Oct 20

2020

How we got here

Two decades of underbuilding and underinvestment in housing[1]—especially the construction of affordable homes—has created an enormous gap between housing supply and demand that will require a national effort to close. There is now between 5 million to 6.8 million housing units missing from the housing inventory[2]. This supply-demand gap has driven a consistent and drastic rise in home prices that puts the dream of homeownership out of reach for many Americans. Without action on the federal level, the shortage of adequate affordable homes will continue to worsen and have a host of negative consequences for homebuyers and communities.

The effects of Covid on housing

The “perfect storm” of increased demand and low supply over the past year has created a competitive housing market. In areas like New York, Boston and the Bay Area, severe supply shortages have skyrocketed home prices leaving millions of low and middle-income families unable to afford centrally located homes. The median price for a single-family home in San Francisco has reached $1.8 million[3]; even with today’s low interest rates, that requires a monthly mortgage payment of roughly $7,500, assuming the family puts down the standard 20 percent. The problem now even extends to rural areas across the country where many families are spending half or more of their income on housing[4].

Americans should be able to afford homes that are close to work and meet their needs. In many regions across the U.S., this is extremely difficult—if not impossible—for homebuyers to find.

The state of housing today

Over the last few months, the hope of returning to normalcy has fueled an increase in consumer spending overall. The housing market has followed suit: low mortgage rates and positive consumer sentiment have sparked a sudden interest in homebuying[5]. Housing prices are skyrocketing because the demand is so great, and the supply is so thin.

Here are some key statistics that illustrate the current state of the housing market:

In September, the national average price for a home was $380,000, 8.6% higher than last year and 20.6% higher than 2019[6].

The number of homes for sale right now is 22.2% below this time last year. The total number of homes actively available for sale is less than half of what we saw in 2019[7].

Looking ahead
There has been a small increase in new listings this year, which is optimistic for buyers. However, the gap in our nation’s housing supply will take a long-term national effort to close. Traditionally, the federal government’s housing policies have consisted of demand-side interventions like tax incentives for homeowners, which have been slashed in recent years and do little to help reduce the cost of housing. The biggest cause of surging home prices today is the low supply that existed before the pandemic and has been exaggerated by the pandemic. America needs supply-side interventions that will drastically increase the number of affordable homes on the market.
The American Property Owners Alliance supports federal policies that:

Incentivize the construction and rehabilitation of homes for low and moderate-income families

Offer incentives to convert unused or underutilized commercial properties into residential units

Provide funding for state and local government to enact pro-housing policies at the local level

The Alliance’s 10 million advocates will be activating soon to pass federal legislation that can help close the housing supply gap. Sign up to receive alerts when there is an opportunity to take action to help make homes more affordable for Americans.
[social_warfare] [1] https://cdn.nar.realtor/sites/default/files/documents/Housing-is-Critical-Infrastructure-Social-and-Economic-Benefits-of-Building-More-Housing-6-15-2021.pdf [2] https://cdn.nar.realtor/sites/default/files/documents/Housing-is-Critical-Infrastructure-Social-and-Economic-Benefits-of-Building-More-Housing-6-15-2021.pdf [3] https://www.bayareamarketreports.com/trend/san-francisco-home-prices-market-trends-news [4] https://www.pewtrusts.org/en/research-and-analysis/blogs/stateline/2019/03/25/rural-america-faces-a-housing-cost-crunch [5] https://www.forbes.com/sites/saibala/2021/04/27/the-covid-19-pandemic-has-fueled-a-crisis-in-the-housing-market/?sh=6ecd0b885928 [6] https://www.realtor.com/research/september-2021-data/ [7] https://www.realtor.com/research/september-2021-data/

To the chagrin of homebuyers, investors swarming in hot housing market

Having a hard time buying a home? You aren’t alone in this crazy housing market where over-bid offers, homes being purchased sight unseen, and cash offers are crushing the chance of the average homebuyer from…

To the chagrin of homebuyers, investors swarming in hot housing market

By: American Property Owners Alliance Sep 03, 2020

Sep 03

2020

Having a hard time buying a home? You aren’t alone in this crazy housing market where over-bid offers, homes being purchased sight unseen, and cash offers are crushing the chance of the average homebuyer from getting a sniff at the home they want. But you know who isn’t struggling to buy a home? Investors. According to data from Redfin, investors purchased nearly 68,000 housing units in the second quarter alone – this included single-family homes, multi-family properties, townhouses and condominiums. This was the largest number of investment purchases in one quarter since Redfin started collecting their data in the year 2000. All told, those units cost $48.5 billion, which is also a record total, according to the report. This also isn’t something that was brought about solely by the pandemic and record-low mortgage interest rates. Investors have already been more active in the residential real estate market prior to the COVID-19 outbreak. In the first quarter of 2020, about 16% of all residential sales were made to investors. Soaring home prices have become an opportunity for investors – who are defined as a company or institution purchasing a home, instead of an individual – as the value of homes continues to increase, investors are practically guaranteed a strong return on their investment. According to the report, investors are focusing on single-family homes more than they ever have before, buying them and turning them into rental properties. In the second quarter, 16% of single-family home sales went to investors, also an all-time high. With so many Americans priced out of the homeownership market, investors are taking advantage, buying these homes, converting them to rentals, and turning a profit as housing providers. [rsnippet id="7" name="Global Article Footer"]

Will the Delta variant impact the housing market like its Alpha counterpart?

Looking back, the COVID-19 pandemic had a strange and unexpected impact on the housing market in 2020 when the Alpha strain encompassed the United States. While people were losing jobs, businesses were closing down and…

Will the Delta variant impact the housing market like its Alpha counterpart?

By: American Property Owners Alliance Sep 02, 2020

Sep 02

2020

Looking back, the COVID-19 pandemic had a strange and unexpected impact on the housing market in 2020 when the Alpha strain encompassed the United States. While people were losing jobs, businesses were closing down and unemployment rates were soaring - it was hard to buy a home. Open houses were all but verboten. Would-be sellers felt the anxiety of the pandemic and either pulled their home off the market or never listed it to begin with out of fear it wouldn’t sell. But then, something happened. After a brief slow down at the start of the pandemic, as the summer of 2020 approached, the housing market started to respond robustly and a housing boom that is still going strong more than a year later, was born.
“It’s hard to say how it’s going to affect the housing market,” Danielle Hale, chief economist for Realtor.com told their website. “The next couple of months are going to be pretty key to see which gear the housing market [shifts] into.”
Prices are unthinkably high. Buyers get into bidding wars with each other over the limited supply, often times winning their bids by going over list price, or by offering cash deals. Now, COVID-19 is rearing its ugly head again. This time with the even more contagious Delta variant. Which begs the question, how will it impact the housing market this time? It could completely flip the hot housing market on its ear again, or it could just be a passing phase that impacts data for a couple of months before things return to the new normal of demand far outweighing the supply. There is a real debate among those in the housing community. Delta has brought back masks – even for vaccinated individuals - as a recommendation to help squash the virus once more. And with the return of masking recommendations, the country is again splitting on political divides, and it is leading to more economic uncertainty for the U.S. in the global economy and has also led to financial markets that are all over the place from one day to the next. “It’s hard to say how it’s going to affect the housing market,” Danielle Hale, chief economist for Realtor.com told their website. “The next couple of months are going to be pretty key to see which gear the housing market [shifts] into.” The Delta variant has also led to the return of falling mortgage interest rates, just as they were starting to inch back up toward pre-pandemic levels. If you combine this with the possibility of returning back to the country being shut down as it was in the Spring of 2020, this could bring more buyers to the market – looking to get a home with a locked in fixed mortgage interest that is near historical lows. But, this can also lead sellers to once again be scared to sell amidst a health crisis, reducing inventory even further, sending prices to unfathomable highs and pricing out most first-time homebuyers and even other middle income earners looking to upgrade their home. Is another lockdown likely? No. But, it’s not out of the realm of possibility. How Americans will handle the anxiety or frustration that could come with that, or with simply the possibility of another stay-at-home order, could go both ways. That’s because many Americans might be completely fed up with the pandemic, and are less fazed this time around, even if the variant of the virus is more contagious than the original. This will become even more evident if another lockdown is avoided. Sellers, especially if they are vaccinated, may not care one iota about Delta, and still list their home for sale. And buyers, even if they are unsure about visiting strange homes in the midst of the pandemic, will still tour homes online and maybe bid on them sight unseen. There’s also the notion that pandemic anxious buyers may have already gotten into a new home between the Alpha and Delta breakouts. Meanwhile, those waiting for prices to come down may still be doing that and those individuals who are actually returning to a workspace that isn’t in their home may now want to avoid getting into a new home that will make their work commute that much longer. As such, Delta may not have a real impact on the housing market, unless quarantines and work and school shutdowns return. Where Delta is having an impact is on mortgage rates. According to Freddie Mac, in late July, the mortgage rates fell to 2.78% on a 30-year fixed-rate loan. As such, if things continue to get worse with this fourth round of the pandemic, the rates will stay low or even sink lower. [rsnippet id="7" name="Global Article Footer"]

Housing affordability crisis will likely get worse before it gets better

Housing experts have been warning us for years that there is a pending housing affordability crisis. It was already rearing its ugly head in certain parts of America before the COVID-19 pandemic. but, since the…

Housing affordability crisis will likely get worse before it gets better

By: American Property Owners Alliance Sep 01, 2020

Sep 01

2020

Housing experts have been warning us for years that there is a pending housing affordability crisis. It was already rearing its ugly head in certain parts of America before the COVID-19 pandemic. but, since the pandemic, it’s accelerated even faster. Housing prices and rents are getting higher and higher, and it’s likely still going to get worse before we reach the tipping point. It is estimated that in the next decade the U.S. will need to add about two million new housing units per year to make up for the 7.4 percent population increase that took place in the 2010s.
“The country has been underbuilding housing for two decades, leading to a shortfall of 6.8 million housing units.”
However, in 2020, there were only 1.3 million new housing units developed - a number that falls well short of what will be needed if 2021 and beyond bring about similar totals. And there isn’t much room for optimism right now. The cost of housing development has skyrocketed. The red tape that is local zoning codes and restrictions is slow to cut through – if you can get through it at all. And thanks to the pandemic, there is an unexpected labor shortage that is also slowing development. With all those things working against housing developers, it’s hard to imagine making up that chasm of 700,000 homes needed to start to slow the crisis. Builders would need to collectively boost their production by 60% each year, a goal that is likely too ambitious to reach. According to a study by the National Association of REALTORS®, done in conjunction with the Rosen Consulting Group, the country has been underbuilding housing for two decades, leading to a shortfall of 6.8 million housing units, when adding in homes lost in that same time frame due to disasters or demolition. What was hard to predict was that even with the economy being hit hard by the pandemic in 2020 and into 2021, the prices of homes and rents continued to increase. This was because historically low mortgage interest rates allowed more buyers to enter the housing market, making demand significantly outpace the supply. It created bidding wars, and alternative purchasing methods – like all cash offers, corporations buying up housing stock, bids well above the list price and even the purchase of properties sight unseen – more normal. This also forced potential buyers, who could not afford a home in the bidding war, to resort to seeking rentals. As such, housing providers increased the cost of rentals as they started to be swallowed up by the same supply vs. demand game. This left many Americans, in the lower income threshold, without affordable housing options - a dangerous precedent that has led to more homelessness – and could see those numbers spike even more once the country figures out how to resolve the conundrum created between property owners and renters brought on by the eviction moratorium. According to the National Low Income Housing Coalition, Wages of between $20 and $25 per hour are needed just to afford the rent of a one or two-bedroom unit. Their data, according to Bisnow, also indicates that there are only 37 affordable housing unit available in America for every 100 extremely low-income renters. The Senate recently passed a $1.2 trillion infrastructure bill that includes $213 billion in funds to preserve more than two million affordable housing units. And, while that’s a nice first step, it pales in comparison to the amount of time and money that would be needed to close the wound that has been festering for decades when it comes to housing affordability. [rsnippet id="7" name="Global Article Footer"]

CoreLogic: June home price increase the largest in 42 years

Housing prices on the rise? Not a shocker. Housing prices jumping in one month by the largest percentage in 42 years? That one might catch even the most ardent real estate analyst off guard. Just…

CoreLogic: June home price increase the largest in 42 years

By: American Property Owners Alliance Aug 30, 2020

Aug 30

2020

Housing prices on the rise? Not a shocker. Housing prices jumping in one month by the largest percentage in 42 years? That one might catch even the most ardent real estate analyst off guard. Just when you thought there was nothing else that could surprise you about the housing market… This stems from data released by CoreLogic, a property analytics provider, that showed that home prices rose in June by 17.2% - the highest one-month growth since 1979. It was no secret that the pressures of supply and demand during the pandemic are resulting in higher prices, but such a huge leap, month-over-month, is both rare and historical.
“Homes are on the market for the shortest period of time in history, averaging about two weeks – meaning half of the homes are selling faster than that.”
When you combine historically low mortgages and low inventory of homes for sale, that means there are going to be significantly more people who want to buy a home than the number of homes that are actually on the market. This is what is creating a wild market with bids over the list price, all cash offers, and purchases being made sight unseen. This is why homes are on the market for the shortest period of time in history, averaging about two weeks – meaning half of the homes are selling faster than that. This means affordability is going to remain a core problem on the hosing market in the near future, and maybe even longer. The intense growth is stalling the market not just for the potential buyers, but for sellers as well. The reason being is folks who want to sell their home are waiting to list because they are often unable to find their next home within their budget. As bad as it is for current homeowners looking to move, first-time homebuyers are in an even worse situation, as they struggle to come up with a down payment for any home, regardless of price. Detached properties grew the most, according to CoreLogic. Their rate of price growth was 19.1%, significantly higher than the growth for attached properties (10.7%). This is a result of the COVID-19 pandemic as it increased the desire for less dense neighborhoods and more living space, both inside the home and outside it. The markets that saw the largest growth were Twin Falls, Idaho (40.2%) and Bend, Oregon (35.4%). Overall, the states with the largest jumps in price were Idaho (34.2%) and Arizona (26.1%). However, this trend does seem a bit unsustainable, and when the market finally stalls, the growth will take a hit as well. While the values aren’t expected to decrease, they should stabilize, with prices expected to increase only by about 3% by the same time next year. [rsnippet id="7" name="Global Article Footer"]

What’s in the $1.2 trillion Senate infrastructure package

The United States Senate just passed a $1.2 trillion infrastructure package, the largest upgrade to the country’s roads, bridges, pipes, ports and broadband in decades. The package contains $550 billion in entirely new investments, including…

What’s in the $1.2 trillion Senate infrastructure package

By: Washington Post Aug 12, 2020

Aug 12

2020

The United States Senate just passed a $1.2 trillion infrastructure package, the largest upgrade to the country’s roads, bridges, pipes, ports and broadband in decades.

The package contains $550 billion in entirely new investments, including money for electric car charging stations and zero-emission school buses. The spending is mostly paid for — without raising taxes. The bulk of the funding comes from repurposing unspent coronavirus relief money and tightening enforcement on reporting gains from cryptocurrency investments. The bill would add about $256 billion to the debt, according to the Congressional Budget Office.

Read the full article from the Washington Post.

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“New” eviction moratorium looks a lot like the old one

It was expected that once the national eviction moratorium came to an end, things would get messy. However, having the applecart upset before that storm even hit was a bit unexpected, and yet – here…

“New” eviction moratorium looks a lot like the old one

By: American Property Owners Alliance Aug 12, 2020

Aug 12

2020

It was expected that once the national eviction moratorium came to an end, things would get messy. However, having the applecart upset before that storm even hit was a bit unexpected, and yet – here we are. Rental assistance money is not being handed out as quickly as it should. With a lot of renters in danger of being evicted from a home they insist they can’t pay for because of the pandemic, the Biden Administration, through the Centers for Disease Control and Prevention (CDC), once again extended the moratorium – this time through October 3. Despite saying at the time that the last extension, which expired July 31, would be the last time it was extended, this moratorium is being considered a “new” one.
“It is a national shame,” Susan Rice, the director of the Domestic Policy Council, told the Times, “That our state and local entities have not taken advantage of this substantial investment from Congress to prevent exactly what we are concerned about.”
It is a gamble by the administration and may be a move that comes off as a bit of “gamesmanship” on the part of the President. When the last extension was enacted in June, the Supreme Court of the United States voted 5-4 to allow it to reach its conclusion but opined that the CDC had overstepped it’s bounds by continuing the moratorium for so long. Although the Supreme Court slightly left the door open for interpretation as to what their next ruling would be if the moratorium was extended yet again, Justice Brett Kavanagh made it clear that he would vote against any further extensions, which could swing the vote if it happens to come before the Supreme Court again. But there are other legal hurdles this latest extension would have to traverse before it gets back to the Supreme Court. Trying to put an end to the moratorium The Alabama and Georgia state REALTOR® associations—along with two housing providers and their property management companies—filed an emergency motion in federal court to block this latest action by the CDC. Although the latest moratorium language was cleverly composed to be narrower in scope initially – saying it would only be extended in areas with high transmission of COVID-19, at the time it was ordered - it still covered about 90% of all renters in the U.S. And, with the continued spread of the Delta variant of the coronavirus, it likely could get back to covering 100 percent of all renters. The new language was designed to circumvent the Supreme Court ruling which required Congressional approval of any new legislation that would allow for a moratorium to be created or extended. Despite a desperate plea from President Biden to Congress two days before the moratorium was set to expire in July, Congress could not pass any new legislation. Biden was then pressured by those in his own party, including Speaker of the House Nancy Pelosi, to file an extension anyway and see what would happen. The Alabama and Georgia REALTOR® associations are now asking a judge to uphold the Supreme Court’s interpretation, and that judge, U.S. District Court Judge from the District of Columbia, Dabney Friederich, is considering blocking the latest ban. “Given that this order is almost identical to the CDC’s earlier order, as to the effect of it, it’s really hard … to conclude that there’s not a degree of gamesmanship going on,” Friedrich said, according to Politico. However, the Department of Justice (DOJ) has argued in court filings that this isn’t an extension of the previous moratorium, but rather a brand new one. They believe it is necessary to continue helping struggling renters as spread of the Delta variant explodes in the U.S. If Friedrich does block the ban, the DOJ will almost certainly appeal the decision, which would keep the moratorium in effect while the appeals process plays out. Ensuring people stay in their homes after the moratorium ends But housing providers say the moratorium, which the CDC first put in place last September, has cost them more than $13 billion per month in unpaid rent, and they continue to urge for swift deployment of federal rental assistance as the solution. Here’s the problem: according to a report in the New York Times, the Department of Treasury disclosed on July 21 that $3billion out of $46 billion in Congressionally approved rental assistance money had been given to the renters who needed it, while the states and cities who got the funding have been sitting on the rest. Throughout July, the Biden Administration tried to expedite the disbursement of the remaining dollars, money that would have allowed renters to pay their housing providers during the pandemic and make everyone whole. But their efforts were fruitless. According to the Times, logistical issues and concerns about potential fraud kept much of the money from flowing. Some cities required overly complicated application forms. Many renters did not hear about the program and simply didn’t sign up. In some states, the money remained frozen because of concerns about giving funds to people who didn’t really need it. “It is a national shame,” Susan Rice, the director of the Domestic Policy Council, told the Times, “That our state and local entities have not taken advantage of this substantial investment from Congress to prevent exactly what we are concerned about.” Housing activists had been shouting at the tops of their lungs for months that once the moratorium expired, a large number of renters would suddenly be at high risk of becoming homeless. The National Association of REALTORS® (NAR) has been pushing hard for the rental assistance money to be distributed and done so in a timely fashion. “About half of all housing providers are mom-and-pop operators, and without rental income, they cannot pay their own bills or maintain their properties,” NAR President Charlie Oppler said in a statement. “NAR has always advocated that the best solution for all parties is rental assistance paid directly to housing providers to cover the rent and utilities of any vulnerable tenants during the pandemic. No housing provider wants to evict a tenant and considers it only as a last resort.” When meeting with reporters after announcing the “new” moratorium, Biden admitted that the way he and his administration went about it was a risk and that it could be vulnerable in court, but that the appeals process would allow it to continue long enough to get more of the rental assistance money into the hands of the renters who need it. “I went ahead and did it,” Biden said, according to the Times. “But here’s the deal: I can’t guarantee you the court won’t rule if we don’t have that authority. But at least we’ll have the ability, if we have to appeal, to keep this going for a month at least — I hope longer than that.” [rsnippet id="7" name="Global Article Footer"]

Redfin: 51 percent of homes in U.S. selling above the list price

It used to be that when you were selling your home you would list a price a little higher than the offer you were willing to accept – that way, as bids came in, you…

Redfin: 51 percent of homes in U.S. selling above the list price

By: American Property Owners Alliance Aug 10, 2020

Aug 10

2020

It used to be that when you were selling your home you would list a price a little higher than the offer you were willing to accept – that way, as bids came in, you could determine which one you were willing to settle for. The way things are going now, that concept is growing extinct. That’s because more than half the homes being sold in America are being sold at above their list price. With the housing stock dwindling, and the demand for homes increasing, prices are rising exponentially. As a result, the market has become uber-competitive, and home sales are now happening faster, for more money, sometimes sight unseen and even with cash offers. According to a recent study by Redfin that looked at home sales in 400 Metropolitan markets, 51% of homes sold in the U.S. sold above the list price during a four-week period that ended in late May. This was a whopping 26% increase over the same time period in 2020. And although the pandemic put a crimp in home sales initially last Spring, the jump is still significant. In addition, the study showed the median home sale price was $354,250, the average asking price for a single-family home was $361,875, and the average length of time a home lasted on the market was 17 days. All three of these data points are records. Price growth usually doesn’t happen until later in the summer, but the skyrocketing prices haven’t just unhinged the door to alternative approaches toward buying a home, they’ve blown the door completely out of the way. The housing market is expected to remain white-hot until mortgage rates increase, which likely won’t occur until after the summer months. Until then, it’s going to be more of the same – buyers being forced to bid above a home’s list or maybe even higher than they budgeted to get a home. The study also showed that the number of active listings are down 49% from the same time in 2019 – which was used as a measure so it could compare to pre-pandemic data. That indicates a severe lack of housing available in general is driving home prices through the roof across the country and is pricing a lot of potential buyers out of the market. The problem is, there are still active buyers who are able to traverse the turbulent waters and are willing to buy homes at these more exorbitant prices. The study showed that of the 400 markets studied, 399 of them saw increases in home sales. The lone market that had a decrease was Rochester, N.Y. (-3%). The largest gains were in markets like San Francisco (184%), San Jose (150%) and Miami (120%) As for prices, they unsurprisingly increased in all 400 markets. Th largest price increases took place in Austin (42%), Oxnard, Calif. (26%) and Miami (26%). The smallest increase was in Honolulu (0.2%). [rsnippet id="7" name="Global Article Footer"]

Biden Administration offers more options to prevent foreclosures

The foreclosure moratorium for federally-backed mortgages expired at the end of July, but the Biden Administration has come up with alternatives for borrowers to reduce their mortgage payments. These new options, administered by the Department…

Biden Administration offers more options to prevent foreclosures

By: American Property Owners Alliance Aug 10, 2020

Aug 10

2020

The foreclosure moratorium for federally-backed mortgages expired at the end of July, but the Biden Administration has come up with alternatives for borrowers to reduce their mortgage payments. These new options, administered by the Department of Housing and Urban Development (HUD), the Department of Veterans Affairs (VA) and the Department of Agriculture (USDA), will provide options for homeowners that would allow them to lengthen the terms of their mortgages by reducing the monthly principal and monthly interest. This would bring them “closer in alignment with the options for homeowners with mortgages backed by Fannie Mae and Freddie Mac,” according to a press release provided by the White House. While the foreclosure ban expired on July 31, the enrollment period for forbearance on loans is still available through September 30.
“HUD will allow servicers to extend the mortgage term for those borrowers unable to make monthly payments after the foreclosure ban expired.”
According to Housing Wire, about 1.75 million homes are still in forbearance. For those Americans who are ready to start paying their mortgages once again, the federal government will allow them to simply add on payments to the end of their current mortgage payment schedule to make up for the lost time. However, many homeowners are going to need more help than just lengthening the mortgage payment schedule if they are to keep their current homes. “In order to ensure a stable and equitable recovery from the disruptions of the COVID-19 pandemic and prepare for homeowners to exit mortgage forbearance, the Biden-Harris Administration is taking action to keep Americans in their homes and support a return to a more stable housing market,” the White House said in a statement. HUD will allow servicers to extend the mortgage term for those borrowers unable to make monthly payments after the foreclosure ban expired. According to the release, some mortgage terms can be extended 360 months – or another 30 years – at the market rate, which would reduce their monthly payments by about 25%. Additionally, borrowers can receive a partial claim, which is an interest-free second mortgage, of sorts, that isn’t due until the first mortgage is paid off in its entirety. These partial claims will be offered by HUD to those borrowers who can start making their mortgage payments again. The VA will buy a portion of the borrowers’ unpaid principal balance and arrears up to 30% and offer a partial claim that is interest free. Additionally, they can extend mortgages for as many as 40 years. As for the USDA, their options are targeting a 20% reduction in monthly payments. These would include a term extension, like HUD, but also an interest rate reduction as well as an advance to help make up for past due payments. Borrowers would have the option to use these new alternatives either individually, separately, or combined. Aside from these new options, the Homeowners Assistance Fund will provide $10 billion in relief for homeowners who were impacted by the pandemic. These funds can be used to pay mortgages, insurance on the home, even utility bills. [rsnippet id="7" name="Global Article Footer"]

Biden Announces Record Amount of Climate Resilience Funding

The Biden administration announced on Thursday a record injection of money to help communities gird against the effects of climate change, as disasters continue to pummel the United States. The new funds — $3.5 billion in…

Biden Announces Record Amount of Climate Resilience Funding

By: New York Times Aug 06, 2020

Aug 06

2020

The Biden administration announced on Thursday a record injection of money to help communities gird against the effects of climate change, as disasters continue to pummel the United States.

The new funds — $3.5 billion in grants to states to protect against floods, wildfires and other threats — mark a shift in United States disaster policy as climate change gets worse: Rather than smaller, more targeted investments, the government is throwing huge sums of money at disaster preparation as fast as it can.

Read the full article from the New York Times.

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HUD attempts to fix its own mistake

The Department will reinstitute an Obama-era rule and rescind one put in place by the Trump Administration to prevent confusion with housing discrimination issues The U.S. Department of Housing and Urban Development (HUD) is trying…

HUD attempts to fix its own mistake

By: American Property Owners Alliance Aug 02, 2020

Aug 02

2020

The Department will reinstitute an Obama-era rule and rescind one put in place by the Trump Administration to prevent confusion with housing discrimination issues The U.S. Department of Housing and Urban Development (HUD) is trying to right its own perceived wrong. In late June, HUD published a proposal to the Federal Register that would restore the Obama-era discriminatory effects rule (first published in 2013) and rescind the Trump-era disparate impact rule (first published in 2020), stating the “2013 rule is more consistent with decades of caselaw and better effectuates the (Fair Housing) Act’s broad remedial purpose of eradicating unnecessary discriminatory practices from the housing market.” There was a strong belief that the 2020 update to the Act would have made it harder for those who were trying to seek fair housing justice to legally prove discrimination and that it complicated the assessment of discrimination by mandating new requirements of proof, new legal defenses, and changing the pleading requirements to cloud whether or not the Fair Housing Act was, in fact, violated.
“We must acknowledge that discrimination in housing continues today and that individuals, including people of color and those with disabilities, continue to be denied equal access to rental housing and homeownership.”
The 2020 rule never actually took effect because of a court injunction issued in the U.S. District Court for the District of Massachusetts as part of the Massachusetts Fair Housing Center v. HUD court case. HUD indicated that by reverting back to the 2013 rule, it would allow for more clear analysis. “We must acknowledge that discrimination in housing continues today and that individuals, including people of color and those with disabilities, continue to be denied equal access to rental housing and homeownership,” HUD Secretary Marcia Fudge told Housing Wire. “It is a new day at HUD-and our Department is working to lift barriers to housing and promote diverse, inclusive communities across the country.” There has been a lot of consternation surrounding these rule modifications or potential rule changes. Former HUD Secretary Ben Carson issued guidelines that outlined a five-step approach that required regulators to identify intentional discrimination by lenders. Under the 2013 rule, which HUD is looking to reinstate, housing providers and lenders could be liable for discrimination tactics even if it were unintentional. But the Trump Administration began pushing for change as far back as the former president’s first year in office. In 2017, he asked the Department of the Treasury to urge HUD to change the disparate impact rule. That got a lot of push back from other elected officials, as well as other civil rights groups and trade organizations including the National Association of REALTORS ®. These organizations banded together with one voice, expressing concern that the new rule would spur on additional housing discrimination through structured racism. After the controversial changes were issued in 2020, a federal judge delivered a preliminary injunction in October to stop HUD from implementing the rule until the legal challenge was resolved. President Biden issued a memorandum in the first week of his presidency ordering HUD to take all the necessary steps to ensure compliance with the Fair Housing Act On January 26, 2021, President Biden issued a memorandum ordering HUD to “take all steps necessary” to examine the effects of the 2020 Rule, including the effect that amending the 2013 Rule has had on HUD’s statutory duty to ensure compliance with the Fair Housing Act. According to the notice issued by HUD, those who wish to comment on the proposed rulemaking may do so through Aug. 24, 2021. [rsnippet id="7" name="Global Article Footer"]

New data, same story – home prices are on the rise again

Home prices went up again in May. No, we aren’t surprised either. According to data released by the National Association of REALTORS® (NAR), the median existing home price across all housing types reached a record…

New data, same story – home prices are on the rise again

By: American Property Owners Alliance Jul 19, 2020

Jul 19

2020

Home prices went up again in May. No, we aren’t surprised either. According to data released by the National Association of REALTORS® (NAR), the median existing home price across all housing types reached a record high of $350,300 in May. This was an increase of a whopping 23.6% from the same time in 2020. Overall, home prices rose across the entire country for the 111^th consecutive month, dating back to March 2012. Sales of existing homes dropped for the fourth straight month, down 0.9 percent from April 2021. Still, existing home sales remain up 44.6% year over year. “Home sales fell moderately in May and are now approaching pre-pandemic activity,” Lawrence Yun, Chief Economist for NAR, said in a statement. “Lack of inventory continues to be the overwhelming factor holding back home sales, but falling affordability is simply squeezing some first-time buyers out of the market. “The market’s outlook, however, is encouraging. Supply is expected to improve, which will give buyers more options and help tamp down record-high asking prices for existing homes.” That increase in supply has already started to show. The total inventory, according to NAR, was 1.23 million units available, an increase of 7% from April, but still significantly less (20.6%) from May 2020.
“Lack of inventory continues to be the overwhelming factor holding back home sales, but falling affordability is simply squeezing some first-time buyers out of the market.”
While the overall supply of homes increased slightly from 2.4 months supply to 2.5 months from April, it is still dangerously low and pales in comparison to the 4.6 months supply from a year earlier. Sales are happening fast and furious. NAR reported almost 90 percent of properties sold in May spent less than one month on the market. The average was 17 days, same as it was in April, but remains much more rapid than a year ago when the average was 26 days on the market. Single family home sales also dipped by 1% from April, but the rate of those sales is still robust, clocking in at a 39.2% increase from the same time a year ago. The median existing single family home price increased again to $356,600, a 24.4% increase from last May. There was no change in existing co-op and condo sales from April to May, but the adjusted annual rate of 720,000 units still marks a 100% increase from the same time in 2020. The median existing condo price is $306,000, a 21.5% increase from May 2020. “NAR continues its advocacy efforts to find new, creative and effective ways to increase housing construction and supply,” NAR President Charlie Oppler said in the report. “The right policies will provide huge benefits to our nation’s economy, and our work to close this gap will be particularly impactful for lower-income households, households of color and first-time buyers.” [rsnippet id="7" name="Global Article Footer"]

New collaborative: Three million net new Black homeowners by 2030

A new collaboration between industry and advocacy groups is determined to have three million net new Black homeowners by the year 2030. They announced their formation on the Friday before Juneteenth, a day many businesses…

New collaborative: Three million net new Black homeowners by 2030

By: American Property Owners Alliance Jul 08, 2020

Jul 08

2020

A new collaboration between industry and advocacy groups is determined to have three million net new Black homeowners by the year 2030. They announced their formation on the Friday before Juneteenth, a day many businesses closed in recognition of the new Federal Holiday, at a press conference in Cleveland that featured Housing and Urban Development Secretary Marcia Fudge and Ohio Sen. Sherrod Brown. The new group, known as the Black Homeownership Collaborative (BHC), unveiled their new website (3by30.org) as well as a seven-point plan to accomplish this ambitious goal. The genesis for the creation of this collaborative is that even today, 53 years after the signing of the Fair Housing Act, the Black Homeownership rate has reached levels not seen since housing segregation was legal in the United States. When the housing market crashed in 2008, it created an era known as the Great Recession. In the decade since the end of that recession, Black homeownership has continued to decrease, while groups in other demographics have each seen a substantial recovery. There are myriad reasons for this, including systemic racism and a continued lack of affordable housing in the country. Federal law suppressed homeownership among people of color which piled on top of more traditional hurdles facing first generation homebuyers - such as an inability to afford a down payment on the purchase of a home - and created the homeownership gap that exists today.
“The persistent gap in homeownership rates among Black and white Americans illustrates how racial inequality in our society translates into wealth inequality.”
According to the Federal Reserve Board, less than 20% of Blacks under the age of 35 own a home, a paltry number when compared with whites in the same demographic (41%). And while the gap closes in a little bit in the next age group (50% of Blacks aged 35-54 own a home compared to 70% of whites), five million additional Black homeowners would be needed to be on par with white homeowners. According to the Urban Institute, if structural barriers aren’t addressed, by 2040 the Black homeownership rate will continue to fall, particularly for households in the 45-74 age demographic. “The persistent gap in homeownership rates among Black and white Americans illustrates how racial inequality in our society translates into wealth inequality,” said Bryan Greene, vice president of policy advocacy at the National Association of REALTORS® (NAR) and a member of the BHC steering committee. “NAR is pleased to join this dedicated group of widely-respected organizations in the Black Homeownership Collaborative to pursue our shared goals. “We look forward to continuing our work to secure federal and local-level policies which will raise Black homeownership levels, strengthen communities, and improve the American economy.” The plan, set forth by the BHC, listed seven realistic steps that can make it possible to increase Black Homeownership by the target of 3 million net new homeowners by 2030. These recommendations were put together by more than 100 housing leaders in both the industry and among housing advocacy groups over the past two years, including NAR. They include:

Homeownership counselling – This includes pre-purchase counseling, counselling borrowers who have been denied mortgage approval to turn a “no” into a “not yet”, and post-purchase counselling to sustain homeownership. This would also require additional funding for housing counselling agencies which, according to the BHC, are significantly underfunded.

Down payment assistance – The legacy of historic denial of homeownership means that Black Americans are less likely to be able to rely on a loan from a family member or sale of an existing home to assist with down payment costs. Research from NAR has found that while almost four out of 10 white Americans – 37% – used the funds from the sale of their primary residence to serve as a down payment for a home, only 21% of Hispanic, 18% of Asian and 17% of Black Americans were able to do so. Black Americans and Hispanic Americans – 15% and 10% – were three and two times more likely, respectively, than white and Asian Americans – 5% each – to tap into their 401(k) or pension funds as a down payment source for a home purchase. As such, a sustainable and targeted down payment assistance program is needed.

Housing Production – While housing supply shortages are a major problem across the country, the biggest area of need for housing is for lower -priced or entry-level priced homes that are affordable for first-time homebuyers or those re-entering the homebuying market after a hiatus. Local zoning restrictions, expensive permits, increased cost of lumber, and other price increases have led to a slowdown in production. Economic interventions in distressed communities, land use reforms, and public investment are needed to develop or rehabilitate more affordable homes.

Credit and Lending – Black homebuyers have consistently struggled to build the credit necessary or be provided with the right loans to afford the purchase of a home as well as a monthly mortgage payment. Innovative mortgage credit scoring and mortgage products are essential for a successful strategy to get people the credit and lending they need. Not everyone is ready to own a home right away, but credit evaluators need to do a better job so they can refer those denied the necessary credit to housing counselors who can get them ready to buy in a short period of time. Additionally, mortgage products need to target populations that have not only been historically underserved by the mortgage finance system, they have been specifically excluded. Addressing these inequities requires direct interventions like special purpose credit programs (SPCP) and specified pools for mortgage securitization.

Civil and Consumer Rights – Today’s homeownership gap was created by a dark legacy of credit access denials and lending discrimination to Black households and communities, which prevented them from building equity, and in turn, wealth. The federal government must ensure it enforces fair housing and consumer protection laws to prevent present-day discrimination from eroding what wealth Black Americans already possess.

Homeownership Sustainability – According to the Urban Institute, Black homeowners have shorter spans of homeownership than white homeowners. While a lot of attention has been given to helping renters become homeowners, not as much has been paid to helping homeowners stay homeowners. According to the BHC, early intervention, ex-ante counseling, and COVID-19 related homeownership assistance are essential components of sustaining homeownership.

Marketing and Outreach –According to Freddie Mac, prior to the COVID-19 pandemic there were at least three million Black households identified as mortgage-ready and more than two million were able to meet income requirements but didn’t have the requisite credit history for home loan requirements. As a result, it’s going to require strong marketing and outreach to let these households know they can become homeowners and start accruing equity and household wealth. According to the BHC, many factors contribute to the need for a sustained and targeted marketing push: the impact of mass foreclosures and predatory equity-stripping schemes in communities of color during the Great Recession; the multigenerational impact of racism on attitudes about the meaning of “the American Dream;” a lack of informed parental support and guidance available to first-generation homebuyers; and significantly higher levels of student debt despite high incomes.

The BHC believes that if their seven-step plan is followed, that the ambitious goal of three million new net Black homeowners by the end of the decade is both a realistic and exciting possibility. [rsnippet id="7" name="Global Article Footer"]

National eviction moratorium extended again; upheld by Supreme Court

It’s safe to say when housing providers first decided to invest in rental properties, they never expected to have such disdain for the Centers for Disease Control and Prevention (CDC). However, through the CDC, the…

National eviction moratorium extended again; upheld by Supreme Court

By: American Property Owners Alliance Jul 08, 2020

Jul 08

2020

It’s safe to say when housing providers first decided to invest in rental properties, they never expected to have such disdain for the Centers for Disease Control and Prevention (CDC). However, through the CDC, the Biden Administration extended the national eviction moratorium for a fourth time – this time through July 31, 2021 – although the CDC indicated this would be the final extension to the moratorium. This is to the relief of many renters and the disdain of many housing providers who are continuing to pay the mortgage on properties that renters are not paying the rent for as a result of the financial burden brought on by the pandemic. Hundreds of rental assistance and relief programs have been created in the past 15 months. But because of a lot of red tape surrounding the application process for that rental assistance, a large portion of the rent aid has not gone to the people who need it most. So, the race against the clock is on to get the funds to the people who are truly struggling with paying the rent as a result of the pandemic, but these programs weren’t built to move with such alacrity. Money is also available for the housing providers, but their acceptance of the relief comes with caveats. According to the New York Times, the funding pays for as much as a year of unpaid rent and three months of future rent payments for eligible tenants. Meanwhile, housing providers can also apply for the relief, and although the program doesn't mandate that they accept the money, those who do take the funds must agree to not evict the qualifying tenant for at least 12 months, with very few exceptions. While housing providers can start the application process, tenants have to sign an online application, and an application cannot be saved and edited later, which has led to a lot of frustration for renter applicants. Meanwhile, tenant rights groups had been lobbying for the moratorium to continue because without rental assistance funds being distributed, they feared a wave of evictions would soon follow. According to the Times that concern, coupled with lagging vaccination rates in certain parts of the country, is what finally convinced the White House to approve the extension. However, that wave may still be coming next month. On the other side of the conversation were those fighting for the rights of the property owners, who have been left on the hook for monthly mortgage payments that were being covered by rent pre-pandemic, but they are now left making those payments without the income necessary to pay it. However, these housing providers suffered a second blow when the Supreme Court voted 5-4 to uphold the CDC moratorium. Justice Brett Kavanaugh seemed to cast the deciding vote. According to SCOTUS Blog, although Kavanagh agreed with the plaintiffs that the CDC exceeded its legal authority in issuing the national moratorium, he felt that since it is set to expire in a month and there will be no further extensions, it’s more pragmatic to just let the moratorium run its course at this stage. As such, he sided with Chief Justice John Roberts and justices, Elena Kagan, Sonia Sotomayor and Stephen Breyer. However, like the CDC moratorium, many state and city eviction bans across the country are set to expire during the summer months, which will soon leave many renters in a precarious position. Many renters have accrued insurmountable debt in the past year and won’t be able to make up the difference. This could leave them without a roof over their heads. As for the housing providers, without the rent money being paid to them, some will pull their properties off the market until they can get themselves caught up on their mortgage payments, further jeopardizing the availability of affordable housing for all Americans. According to the Times, the Biden administration is ramping up its efforts to stem the tide that is coming with likely eviction filings in August. There will be an affordable housing and evictions summit this month at the White House. Guidance will come from the Treasury Department on how to more efficiently and effectively distribute emergency aid to both renters and housing providers that were part of the pandemic relief bill. The Department will also implement better and more regular communication with state and local officials, as well as legal aid organizations, to try and limit evictions once the moratoriums end. [rsnippet id="7" name="Global Article Footer"]

Fannie Mae: Homebuyers weary of housing market

When Russ Joy and his wife Nancy bought their starter home in 2016 in the town of Royersford, PA, the notion was that they would start a family, and in a few years, upgrade to…

Fannie Mae: Homebuyers weary of housing market

By: American Property Owners Alliance Jun 25, 2020

Jun 25

2020

When Russ Joy and his wife Nancy bought their starter home in 2016 in the town of Royersford, PA, the notion was that they would start a family, and in a few years, upgrade to a bigger home. Now, with three young children, the time has come, but the plan that the Millennial couple had put together to make this happen has been unable to come to fruition. That’s because the Joys - both of whom were public school teachers until Russ took a job in the writing/marketing field at the completion of the 2020-21 school year - have been unable to compete with the craziness of the housing market, even if they are to make about $50,000 on the sale of the home they are in right now. “It’s bad enough that prices have already become inflated beyond what we expected,” Joy said. “It’s demoralizing to see so many properties going for tens of thousands of dollars over the asking price with cash offers. “As a young family, trying to expand, there is no way to be competitive with all-cash offers.” It’s not just the cash offers. Or bids coming in way above list. Or even some buyers being willing to buy the property sight unseen. The Joys thought they had found their home in nearby Gilbertsville, but they were unable to even get to the table because the sellers and the selling agent pushed the envelope of ethics to deny them their bid – which was the lone bid on the home at the time. Having the upper hand, the seller and their agent not only wanted a filing of the financial disclosures of the monetary assets of the Joys, but also the family who are in agreement to buy the Joys current home. The Joys agent checked in with the ethics board to see if this was fair, and the Board deemed it was. But it’s not like they were outbid for the home, rather they were kept from making the purchase because they are a young family of five and the family buying the Joys current home is an FHA loan applicant. “It’s like they are using our age and the fact that our buyers are potentially being backed by a Federal loan against us,” Joy said. “It’d be fine if a month or two from now we found out we were just outbid, but if they aren’t selling to us based on who we are, or who the people are that are buying our house seems really discriminatory to me.” The Joys are not alone with their frustrations. According to the latest Fannie Mae Home Purchase Sentiment Index (HPSI), only 35% of consumers believe now is a good time to buy a home, down from 47% in April. And those who believe it is a bad time to be a homebuyer increased to 56% from 48%. “Consumers appear to be acutely aware of higher home prices and the low supply of homes, the two reasons cited most frequently for that particular sentiment,” Doug Duncan, senior vice president and chief economist at Fannie Mae told Housing Wire. “However, despite the challenging buying conditions, consumers do appear more intent to purchase on their next move, a preference that may be supported by the expectation of continued low mortgage rates, as well as the elevated savings rate during the pandemic, which may have allowed many to afford a down payment.” The lack of available homes, combined with the higher prices and cash offers or over-market bids, are discouraging homebuyers in the short-term. There are other factors, such as job creation or job stability, and a rebounding economy actually saw a bump in the HSPI index by one point (80) in May. Still, because the housing market still favors the sellers, more than two-thirds of potential sellers surveyed by Fannie Mae in June said now is a prime time to list a home, which is no different than it was in May. Likewise, the percentage of respondents who think home prices will continue to rise over the next 12 months decreased slightly, but insignificantly from 49% to 47%. That two percent difference shifted to those who feel prices will stay the same (up from 27% to 29%). A total of 17% of respondents feel prices will come down, and that number remained unchanged from May. No matter how you slice it, it seems like the feelings of homebuyers aren’t going to be much different than what the Joys are experiencing for the remainder of the year, if not longer. “It’s been emotionally draining,” Joy said. “And the joy of looking for a house has been taken from us.” [rsnippet id="7" name="Global Article Footer"]

Infrastructure: Crossing the Bridge to Better

How do we build the bridge to a more sustainable, equitable future for all property owners? Smart investments in infrastructure today. Click on a subject area below to learn more about infrastructure and what’s needed…

Infrastructure: Crossing the Bridge to Better

By: American Property Owners Alliance Jun 23, 2020

Jun 23

2020

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How do we build the bridge to a more sustainable, equitable future for all property owners? Smart investments in infrastructure today. Click on a subject area below to learn more about infrastructure and what’s needed to cross the bridge to better communities.

Broadband

Waste and Water

Roads and Bridges

Mass Transit

Broadband

Currently, 19 million Americans do not have access to broadband at threshold speeds.¹

When communities gain access to high-speed internet, businesses grow, jobs are created, and according to a recent study, property values are 6% higher.² Return to top.

Waste and Water

Only 37% of the nation’s total water infrastructure capital needs were met with previous funding.³

There is a critical need to maintain and expand systems that deliver clean drinking water to property owners. We must invest in waste and water system improvements now to conserve water and keep communities safe and healthy. Return to top.

Roads and Bridges

More than 40% of our country’s road systems are in poor or mediocre condition, costing drivers over $1,000 every year in wasted time and fuel. ⁴

Roads play a critical role in the transfer of goods and services that fuel local economies. We must invest in roads and bridges now to support local economies, improve traffic congestion and road safety, and lower transportation costs for property owners. Return to top.

Mass Transit

45% of Americans do not have access to public transportation.⁵

It is time to invest in expanding access to mass transit so that people can more easily access healthcare, jobs, schools and more. Mass transit also raises property values and improves the quality of neighborhoods. Return to top.

Sign The American Property Owners Alliance petition to Congress urging them to them to support smart infrastructure investment.

Click Here

[social_warfare]

¹ Federal Election Commission (FEC) - Eighth Broadband Progress Report

² National Association of REALTORS® - Broadband Access

³ 2021 Infrastructure Report Card - Wastewater

⁴ 2021 Infrastructure Report Card - Roads

⁵ 2021 Infrastructure Report Card - Transit

Most federal rental assistance money not being delivered to those in need

The U.S. Government has allocated $45 billion for rent relief since December 2020, but that money has barely made an impact, and with the eviction moratorium about to run out, it’s likely this assistance money…

Most federal rental assistance money not being delivered to those in need

By: American Property Owners Alliance Jun 21, 2020

Jun 21

2020

The U.S. Government has allocated $45 billion for rent relief since December 2020, but that money has barely made an impact, and with the eviction moratorium about to run out, it’s likely this assistance money will never be used for its intended purpose. States, cities, and smaller municipalities have created more than 340 new programs in the wake of the COVID-19 pandemic to help distribute federal rental assistance dollars. However, according to Vox Media, the state programs, which have received the lion’s share of the funding, have only distributed a small percentage of the money they have received. The problem has been that while the notion of providing billions of dollars in much needed rental assistance, the devil was in the details to make sure the right people who actually needed the aid got it. That created a whole mess of red tape, forcing renters to provide proof of need and identity, something that the people in the most dire of circumstances are unable to produce. Additional problems are that while these programs were created and existed, not enough grassroots work was done to let the people know who needed the assistance that they were available to help. As such, only a small percentage of those in need of rent relief even knew relief was available to them. According to the National Multifamily Housing Council, a large majority of American renters made at least a partial rent payment in May. However, because most people consider their rent the most important bill they have to pay, they often eschew other required payments, or put themselves into a worse-off financial situation. Just because the rent has been paid, doesn’t mean money wasn’t borrowed, or credit card debt didn’t pile up, or valuable possessions weren’t sold - just to scrape by for another month. The Centers for Disease Control and Prevention’s (CDC) eviction moratorium is set to expire at the end of June, barring another extension. With there being court cases across the country saying the CDC exceeded its authority by imposing the moratorium in the first place, another extension seems less likely. This will force state and local governments to decide whether to keep their own moratoriums in place or have an onslaught of evictions begin as soon as July. This appears to be a lose-lose situation for local governments. If they keep the moratoriums in place without the rental assistance money getting to the people who need it, more mom-and-pop property providers will fall behind on their mortgage payments without the rent coming in to supplement it. As such, many of these property owners will pull their property from being available to rent, trimming further an already slim inventory of affordable housing. According to the Department of Housing and Urban Development, 41% of all rental units in America are owned by small business housing providers operating on very slim profit margins. These rentals tend to be less expensive than single family units or larger, corporate-owned, multi-family complexes. If they choose not to keep the moratoriums in place, evictions will skyrocket, backlog, and create mayhem, all the while many low-income individuals and/or families will have to find somewhere to sleep or risk homelessness. Either way, it’s not an ideal situation. Finding ways to streamline these rental assistance dollars - and quickly - is the best path to stemming the rent crisis and ensuring that everyone can have a roof over their head. [rsnippet id="7" name="Global Article Footer"]

Biden’s Neighborhood Homes Tax Credit aims at revitalizing low-income communities

It’s not a surprise to learn there’s a housing shortage in America. There are countless stories out there talking about ways to combat that shortage. The most common solution people support is building more homes.…

Biden’s Neighborhood Homes Tax Credit aims at revitalizing low-income communities

By: American Property Owners Alliance Jun 10, 2020

Jun 10

2020

It’s not a surprise to learn there’s a housing shortage in America. There are countless stories out there talking about ways to combat that shortage.

The most common solution people support is building more homes. And while that is definitely a worthy strategy, it would take years to overcome the current shortages if that were the only plan of attack.

Another one that has cropped up, as part of the Biden Administration’s infrastructure plan, is the notion of rehabilitating existing homes that may be out of date and get them up to code so they can once again be livable.

According to the National Association of REALTORS®, there were 1.7 million older housing units that were demolished or taken out of stock in an eight-year span between 2009 and 2016. According to Freddie Mac, if those homes were renovated rather than demolished, the housing supply would have at least doubled, if not grown even larger, by 2017.

The Biden Administration wants to harness that notion and use it to help stop the housing shortage and make more homes available, especially for lower-to-middle income earners.

On June 1, Biden announced his plan for the Neighborhood Homes Tax Credit, an initiative that would incentivize rehabilitation, rather than total demolition, of outdated homes.

Investors would be able to claim the credit on their federal tax returns if they sell the home and it is then occupied by an eligible buyer who makes no more than 140% of the area median income.

The credit would make up the difference between the costs of the rehabilitation and development, and the eventual sales price. However, there would be a cap on the final sales price that could not exceed four times the area median family income.

In addition, homes must be located in areas where there is a poverty rate of at least 130% of the area poverty rate, the median family income is below 80% of the area median, and median home values are lower than the area median in order to be eligible for the credit. The White House indicated that would cover approximately 25% of all census tracts.

According to a White House press release:

Approximately 40 percent of U.S. housing stock is at least 50 years old, and more than 15 million properties are vacant even as families struggle to find affordable housing. In many neighborhoods, these properties make it difficult to attract or retain local homebuyers, reducing property values and community wealth.

Modeled after the Low-Income Housing Tax Credit and the New Markets Tax Credit, state housing finance agencies would receive an annual allocation of Neighborhood Homes Tax Credits based on population.

Each state’s housing finance agency would then award tax credits to project sponsors—developers, lenders, or local governments—through a competitive application process. Sponsors would use the credits to raise investment capital for their projects, and the investors could claim the credits against their federal income tax when the homes are sold and occupied by eligible homebuyers.

As mentioned earlier, these tax credits would cover the difference between total development costs (including acquisition, rehabilitation, demolition, and construction) and the sales price. This would, for example, make it financially viable to spend $120,000 acquiring and rehabilitating a vacant property that would only sell for $100,000 on the open market by offering a $20,000 tax credit to cover the difference.

The Tax Credit would bolster homeownership rates for low- and moderate-income homebuyers in underserved communities, while protecting against gentrification.

The U.S. is home to consistent disparities in homeownership and wealth. Across the country, just 49 percent of Hispanic Americans and 45 percent of Black Americans own their own homes, compared to 74 percent of White Americans.

As home prices rise, the proposed Tax Credit would make a generational investment in homeownership affordability, thus enabling low- and moderate-income buyers – including homebuyers of color – to purchase their own homes and build wealth. [rsnippet id="7" name="Global Article Footer"]

HUD budget to expand greatly if Biden plan approved

The Department of Housing and Urban Development (HUD) could be in for a big financial boost, as part of President Biden’s proposed budget plan, that could make a huge impact on homeownership and housing in…

HUD budget to expand greatly if Biden plan approved

By: American Property Owners Alliance Jun 09, 2020

Jun 09

2020

The Department of Housing and Urban Development (HUD) could be in for a big financial boost, as part of President Biden’s proposed budget plan, that could make a huge impact on homeownership and housing in America.

Biden’s plan would appropriate about $150 billion to HUD that would also create tens of thousands of jobs for working-class families that do not require a college degree.

Recently, HUD secretary Marcia Fudge toured Kansas City with Mayor Quinton Lucas and Missouri Rep. Emanuel Cleaver. While there, she highlighted how Biden’s American Jobs Plan will resuscitate American housing infrastructure and, at the same time, combat the ever-growing affordable housing crisis in the country.

“Our homes can serve as a bridge to greater opportunities and a better life,” Fudge said in a press release. “The American Job Plan is a historic, once-in-a-generation investment in our nation’s infrastructure – including our housing infrastructure. If we want the United States to remain the greatest nation in the world, then we must first take care of home – in the most literal sense. To pass an infrastructure plan that fails to expand affordable housing and to revitalize our communities would be akin to building a road that leads to nowhere.”

The plan also calls for guaranteeing one million housing units to be dedicated for low-income families and addressing other long-suffering housing infrastructure needs, such as health and safety concerns.

The jobs that would be created with this plan would allow for the development, upgrading, and retrofitting homes in the same communities where the jobs would be created.

These new jobs would come with a requirement that employers pay workers competitive wages, have local workforce and hiring agreements, guaranteeing jobs to the people who live in the specific communities, and additionally use workers from labor training and apprenticeship programs.

Another facet of the proposal would require these employers to not interfere with their employees who try to organize a union so they could negotiate and collectively bargain employment contracts. This means the employers can not require their employees to undergo mandatory individual arbitration.

Specifically, the plan calls for a $5.4 billion expansion of housing vouchers to cover 200,000 additional families. Furthermore, homeless assistance grants would increase by $500 million, which would support another 100,000 additional households that includes victims of domestic violence and homeless youth.

Other specifics that are part of the plan include:

Building affordable housing not just in big cities, but in small towns across the country.

Incentivizing local governments to remove exclusionary zoning and restrictive land use policies.

Investing $2 billion in HUD’s Section 202 Supportive Housing for the Elderly program to increase supply and enhance supporting services for affordable housing for low-income older Americans.

Removing lead-based paint from approximately 175,000 housing units and, in the process, make multifamily homes more energy-efficient and create communities that are more resilient to harsher climates.

Meet the housing needs of tribal communities.

These budget increases, as part of the plan, are likely a starting point for negotiation in Congress and likely will be trimmed down or have changes in some capacity to garner the bi-partisan support that will be needed to be approved.

Vermont Sen. Bernie Sanders, who chairs the Senate Budget Committee, praised the increases in funding for affordable housing through HUD, as well as other funding increases.

“At a time when over half of our people are living paycheck to paycheck, and millions of elderly people are experiencing poverty, this budget goes a long way in providing the help that so many Americans desperately need,” Sanders said in a statement, according to Housing Wire.

Congress has to pass a budget before Oct. 1, the beginning of fiscal year 2022.

In his first year in office, Biden and his administration have taken a significant focus on affordable housing.

Separate from his budget proposal for HUD, Biden’s $2 trillion infrastructure plan includes $213 billion to be allocated for housing, specifically for low-income homeowners and first-time homebuyers. [rsnippet id="7" name="Global Article Footer"]

Biden hoping for a home run to aid first-time homebuyers

President Joe Biden wanted a tax credit for first-time homebuyers. He needed Congress to step up to the plate. And while there’s still some work to do before hitting the ball out of the park,…

Biden hoping for a home run to aid first-time homebuyers

By: American Property Owners Alliance Jun 09, 2020

Jun 09

2020

President Joe Biden wanted a tax credit for first-time homebuyers. He needed Congress to step up to the plate.

And while there’s still some work to do before hitting the ball out of the park, Congress at least gave him a line-drive base hit in its first at bat.

In April, U.S. Rep., Jimmy Panetta of California and Rep. Earl Blumenauer of Oregon introduced new legislation that is known as the “First-Time Homebuyer Act.” The new bill, being discussed in Congress, would provide a tax credit for first-time homebuyers that would equal 10% of the purchase price of the home, or $15,000.

Eligible buyers are those who have not owned a home or purchased a home in the three previous years.

Another condition of eligibility is that participants must not make more than 160% of the median income for the area and the purchase price of the home must be no more than 110% of the median purchase price of the area.

Borrowers will be able to claim the credit for any home purchased in 2021 or beyond.

The idea was to target those individuals who are low or middle-income earners, and they would have to use the home as a primary residence for at least four years. If not, a portion of the credit would be recovered through taxes.

This bill is not to be confused with different legislation that would provide down payment assistance via a closing grant to first-time, first generation homeowners. This bill - which part of Biden's infrastructure plan - should not be confused with different legislation that would provide down payment assistance via closing grant to first-time, first-generation homeowners, which is not affiliated with Biden’s plan.

That said, there’s a possibility that both see the light of day.

“This legislation is just one element of the big, bold housing agenda that we are promoting to combat the housing affordability crisis and address centuries of overtly racist and discriminatory housing policies that have left massive wealth, homeownership, and opportunity gaps between white communities and communities of color,” Blumenauer said in a statement provided to Housing Wire.

The legislation is designed to build wealth within communities that face systemic exclusions in the housing market.

This isn’t the first time that a first-time homebuyer tax credit is being considered in Congress. In fact, in 2008, Congress passed an overwhelmingly successful law that created a $7,500 tax credit for first-time homebuyers and 1.5 million homebuyers took advantage of the credit.

In 2009, the credit increased to $8,000.

Things went awry when it became obvious that the Internal Revenue Service wasn’t providing the proper oversight, and an IRS watchdog found more than 74,000 questionable claims for the tax credit that the IRS simply missed.

In those instances, there were individuals taking the credit who did not purchase a home. There were also borrowers under the age of 18 and there were those who received the credit who had, in fact, owned a home within the previous three years.

As much as first-time homebuyers would champion this legislation becoming law, with the way Congress moves, it might not be worth the wait.

In other words, if you are a first-time homebuyer, you might want to act now and not sit around and wait to see if Congress can pass this bill.

Properties are being gobbled up fast. Sometimes mere days after being listed. If you are waiting, home prices will continue to rise, the market will become more competitive, and you could be left standing there with the bat on your shoulder as strike three blows past you. [rsnippet id="7" name="Global Article Footer"]

Report: Single-Family home prices up year-over-year

ATTOM Data Solutions’ property tax analysis of around 87 million single-family homes around the country showed that $323 billion in property taxes were levied on single-family homes in 2020, up 5.4 percent from $306.4 billion…

Report: Single-Family home prices up year-over-year

By: The Title Report May 14, 2020

May 14

2020

ATTOM Data Solutions’ property tax analysis of around 87 million single-family homes around the country showed that $323 billion in property taxes were levied on single-family homes in 2020, up 5.4 percent from $306.4 billion in 2019.

The average property tax of $3,719 for a single-family home in 2020 rose 4.4 percent from $3,561 in 2019, while the effective property tax rate of 1.1 percent dipped from 1.14 percent in 2019.

“Homeowners across the United States in 2020 got hit with the largest average property tax hike in the last four years, a sign that the cost of running local governments and public school systems rose well past the rate of inflation. The increase was twice what it was in 2019,” ATTOM Data Solutions Chief Product Officer Todd Teta said in a release. “Fortunately for recent homebuyers, they have mortgages with super-low interest rates that somewhat contain the cost of homeownership. But the latest tax numbers speak loud and clear about the continuing pressure on both recent and longtime homeowners to support the rising cost of public services.”

Read the full article from The Title Report

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The results of homeowner tax reform are in: Americans are voting with their feet

Once upon a time, the federal tax benefits of homeownership were equal. The write-off you got in California or New York was the same as the break you received in Montana or New Mexico. With…

The results of homeowner tax reform are in: Americans are voting with their feet

By: Bankrate.com May 14, 2020

May 14

2020

Once upon a time, the federal tax benefits of homeownership were equal. The write-off you got in California or New York was the same as the break you received in Montana or New Mexico.

With the tax reform of 2017, however, that’s no longer the case. Changes in tax policy have caused homeowners to rethink their real estate options, a trend accelerated by the COVID-19 pandemic. The result? For some, it’s goodbye, New York. So long, San Francisco. Hello, Orlando. Howdy, Austin.

“For the past two years, I’ve felt like everyone is leaving Los Angeles, and that has intensified during the pandemic,” says Lindsay Katz, an agent at real estate brokerage Redfin in Los Angeles. “More than half of my sellers are moving to a different area. A lot of young families are moving back to their hometowns to be near their parents, moves they can now make because they’re working remotely.”

Read the full article on Bankrate.com

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Is the housing bubble going to burst? Don’t hold your breath

If you are expecting the latest housing boom bubble to burst, don’t. That’s because, as National Association of REALTORS® (NAR) chief economist Lawrence Yun said, “This (boom) is not a bubble. It’s simply a lack…

Is the housing bubble going to burst? Don’t hold your breath

By: American Property Owners Alliance May 14, 2020

May 14

2020

If you are expecting the latest housing boom bubble to burst, don’t. That’s because, as National Association of REALTORS® (NAR) chief economist Lawrence Yun said, “This (boom) is not a bubble. It’s simply a lack of supply.” As basic as he makes that sound, it’s the reality. Housing is booming in America because of an historic low in housing stock on the market. As a result, prices are going up, and in some places, buyers are buying homes above the list price just to ensure they win the bid. All that’s doing is pricing out a lot of hard-working Americans from achieving the dream of homeownership. And it’s not a good thing long-term, because if this isn’t a bubble, as Yun said, that means the prices aren’t going to plummet anytime soon, if much at all.
“This (boom) is not a bubble. It’s simply a lack of supply,” says NAR chief economist Lawrence Yun.
According to data from NAR, there are just 1.03 million homes available in America. In July 2007, there were four times as many homes on the market. Prices are up 17.2% since March 2020 and the number of active listings in that same time period is down 54%. Some cities are seeing a ridiculous jump in list prices. For example, the median price of a single-family home in Austin, Texas is now $520,000 – a 40% jump from the same time in 2020. While mortgage rates are now back above 3% and likely not going to get any lower, that percentage is still appealing for buyers Combine affordable mortgages with a slowdown in housing development brought on by the COVID-19 pandemic; a flight toward bigger, suburban homes as people are finding they can effectively work from home; and a good stock market, allowing some individuals to have more money for a down payment, and it’s easy to see why prices are skyrocketing. This is hurting the first-time homebuyer greatly, as they don’t have the personal wealth to compete with these individuals on the purchase of a home. Add in the fact that large corporations are buying up available homes and renting them, knowing the market is tough on Millennials and Generation Z, and the number of owner-occupied homes is drying up. Some buyers are even gambling and willing waive the right to inspect a property or other financial contingencies before buying the property. Heck, some homes are selling sight unseen. The one silver lining is rents seem to have stabilized, so people can find a way to get a roof over their heads. Albeit these are not always ideal circumstances as renting makes it harder to save to buy a home and start accumulating wealth. But that’s only a small ray of sunlight. According to Yun, we are flirting with a dangerous situation where if rates remain low, demand picks up with new jobs, there's no increase in supply, and the only thing that moves is home prices, more and more people will get priced out. “That would mean we are creating a divided society of haves and have-nots," he said. [rsnippet id="7" name="Global Article Footer"]

States with the highest property taxes

In some states, homes are cheap, property tax rates are less than half of 1% and the average property tax payment is just a few hundred bucks per year. In the most expensive states, however,…

States with the highest property taxes

By: Yahoo.com May 14, 2020

May 14

2020

In some states, homes are cheap, property tax rates are less than half of 1% and the average property tax payment is just a few hundred bucks per year. In the most expensive states, however, rates soar over 2%, homes are pricey and average annual property tax bills routinely creep above $5,000 and beyond.

Using data from the Tax Foundation, GOBankingRates ranked the states with the highest property taxes in America, including the percentage rate, the average dollar amount paid and the average home value. The results are listed in ascending order from least expensive to most. For context, the national average effective property tax is 1.06%, the U.S. average home value is $263,351 and the average annual property tax bill is $2,787.

Read the full article on Yahoo.com

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Congress considers $15,000 first-time homebuyer credit

A refundable, advanceable tax credit of up to $15,000 for first time homebuyers, being considered in future tax and economic stimulus legislation, could catapult millions of renter households into first-time homeownership, a new Zillow analysis suggests. While Congress…

Congress considers $15,000 first-time homebuyer credit

By: CPAPracticeAdvisor.com May 14, 2020

May 14

2020

A refundable, advanceable tax credit of up to $15,000 for first time homebuyers, being considered in future tax and economic stimulus legislation, could catapult millions of renter households into first-time homeownership, a new Zillow analysis suggests.

While Congress has already passed billions in aid over the past year to provide homeowner and renter relief, housing will remain a key area of focus through 2021 — especially as Congress continues to grapple with decreasing affordability.

Zillow research found that with a 3.5% down payment on a 30-year mortgage with a 3% interest rate, about 9.3 million renter households in the U.S. (27.4%) would spend less than a third of their income on the monthly payment for the median home sold in their metro in 2020^. An advanceable tax credit would remove for them what two thirds of renters cite as the single biggest barrier to homeownership -- saving for a down payment. Other hurdles include qualifying for a mortgage and job security.

A tax credit could be even more beneficial to renters in relatively more affordable metros, like Pittsburgh (40.5% could afford a median mortgage), Cincinnati (39.7%), Cleveland (39.0%), and St. Louis (38.5%). Costly California metros like Los Angeles (10.1%) and San Jose (12.1%) have some of the smallest share of renters that could afford a mortgage, but the program would still significantly impact thousands in those regions.

Read the full article on CPAPracticeAdvisor.com

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The U.S. is in the midst of a housing crisis. What can be done about it?

The nation is struggling with an affordable-housing crisis. There is not enough housing in communities across the country, including here in Philadelphia. This means families must pay more for their housing, renters have less to…

The U.S. is in the midst of a housing crisis. What can be done about it?

By: Philadelphia Inquirer May 13, 2020

May 13

2020

The nation is struggling with an affordable-housing crisis. There is not enough housing in communities across the country, including here in Philadelphia. This means families must pay more for their housing, renters have less to get by on at the end of the month, homeownership is out of reach for too many, and those of modest means are forced to live farther from decent jobs.

Homebuilding collapsed during the housing crash more than a decade ago and has been slow to recover. Construction of high-end homes and apartments recovered first, and there is now an oversupply in some urban areas across the country.

However, the construction of affordable housing — homes reasonably priced for lower-income households to rent or own — has only recently begun to increase and continues to lag demand. The shortfall is so large that it would take an extra year of construction at its current pace to close it.

The lion’s share of the undersupply is concentrated in areas that offer significant economic opportunity, driving up house prices and rents for low- and moderate-income families precisely where they want to live.

Read the full article from Philadelphia Inquirer.

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Housing advocates want equity provisions in Biden’s proposed infrastructure bill

Witnesses urged senators to bake provisions to ensure equity into President Joe Biden’s proposed infrastructure package or they would risk repeating a history of public investments that locked African Americans and minorities out of buying…

Housing advocates want equity provisions in Biden’s proposed infrastructure bill

By: Roll Call May 07, 2020

May 07

2020

Witnesses urged senators to bake provisions to ensure equity into President Joe Biden’s proposed infrastructure package or they would risk repeating a history of public investments that locked African Americans and minorities out of buying homes and building wealth.

Federal policies, including provisions of the New Deal and a 1950s law to expand and build highways, worsened segregation and drove divestment from Black and minority communities, witnesses said Tuesday during a Senate Banking Committee hearing on racial discrimination in housing.

Senate Banking Chairman Sherrod Brown, D-Ohio, asked witnesses how to fairly implement future infrastructure packages, such as the one Biden introduced last month. Biden’s proposal includes $213 billion to build and rehabilitate affordable housing units.

Past infrastructure investments, including the creation of the Federal Housing Administration and construction of the federal highway system, created jobs and drove economic growth, but only for some communities, Brown said.

Read the full article from Roll Call.

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How an infrastructure bill can help rural communities in the West

Kane Creek Road, a curving asphalt road nestled between the Colorado River and red rock cliffs, might not see much use were it not situated in Moab, Utah — a small town so inundated with…

How an infrastructure bill can help rural communities in the West

By: deseret.com May 07, 2020

May 07

2020

Kane Creek Road, a curving asphalt road nestled between the Colorado River and red rock cliffs, might not see much use were it not situated in Moab, Utah — a small town so inundated with visitors these days that City Manager Joel Linares says he’s never bored.

“We’re just getting overrun. We just cannot keep up,” Linares said.

The road, which leads to a popular off-roading route, is falling apart, according to Linares. The byway has turned into a kind of quilt with lines of asphalt zigzagging every way. “I don’t know that there’s a 6 foot by 6 foot square of asphalt left in the whole road. I mean, it’s just a big piece of patchwork.” he said.

Quick fixes just aren’t working anymore.

Deteriorating Kane Creek and other roads in this area of southeastern Utah are an example of how a small town of roughly 5,000 full-time residents must contend with big city infrastructure problems brought on by an average of 3 million visitors a year.

“All of our projects and everything is so geared towards meeting the market demand that’s being driven by overnight accommodations,” Linares said. “We never have time or money to go in and take care of our failing infrastructure that’s decades and decades and decades old.”

Read the full article on deseret.com

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Fair Housing Month Feature: Louisiana Fair Housing Action Center

The American Property Owners Alliance (The Alliance) is deeply committed to improving fair housing protections to make property ownership accessible for all Americans. We know that a critical step to achieve equity in homeownership is…

Fair Housing Month Feature: Louisiana Fair Housing Action Center

By: American Property Owners Alliance May 07, 2020

May 07

2020

The American Property Owners Alliance (The Alliance) is deeply committed to improving fair housing protections to make property ownership accessible for all Americans. We know that a critical step to achieve equity in homeownership is to support organizations and advocates who are dedicated to protecting fair housing rights and expanding opportunity. Meet Cashauna Hill, Executive Director of the Louisiana Fair Housing Action Center. Cashauna and her team work to end discriminatory housing policies and practices through litigation and policy advocacy, along with fair housing trainings and foreclosure prevention counseling. Prior to her role at LAFHAC, Cashauna successfully resolved fair housing and lending claims through administrative and court processes. She has been interviewed by CNN, NPR, and countless other national and local media outlets – and has even testified before the United States Congress as a fair housing expert.
Why is equitable access to housing so important
Cashauna: Where we live influences nearly every aspect of our lives. Our zip code determines everything from whether we have access to fresh food and produce to how long we’ll have to wait for public transit, to even how long we’ll live. Equitable access to housing is important because where we live determines how or whether we’ll have access to opportunity.
What are common obstacles and discrimination that people face when trying to rent or buy a home? You are welcome to provide specific examples.
Cashauna: It’s important to note that whether or not a home is even available to rent or purchase can be rooted in discriminatory housing policy. Zoning and land-use restrictions have, for generations, worked to limit the kinds of housing opportunities that may be available in certain communities. When homeseekers look for housing in a certain community, we know that they may encounter discriminatory actions from landlords, sales agents, and other real estate professionals.
How does your organization help individuals and families overcome the barriers to housing access to increase equity in housing?
Cashauna: LaFHAC provides free legal representation to people who have experienced discrimination, and works in concert with developers and other interested parties to challenge discriminatory policies and practices in the housing market through litigation. Additionally, LaFHAC provides free foreclosure prevention services to ensure that our neighbors can continue to build and retain generational wealth through homeownership, and provides fair housing training sessions and other educational opportunities to community members. LaFHAC also works at the state, local, and federal level to support passage of policies that advance equitable access to housing opportunity.
What does the future of fair housing look like?
Cashauna: The future of fair housing should look like families being able to choose the housing that works best for them, free of interference from discriminatory policies and practices. It sounds simple, but there has not yet been a time in this nation when this vision is reality.

About the American Property Owners Alliance
The American Property Owners Alliance (The Alliance) is a nonpartisan, non-profit organization created to protect and support property owners and pave the way for future property owners. Our mission is to educate property owners about federal issues, laws and policies; to advocate for owners’ rights and interests; and to mobilize, when necessary, to secure those rights and interests.

Sign The American Property Owners Alliance petition to Congress urging them to support property owners and remove barriers to more affordable housing.
[social_warfare]

Fair Housing Month Feature: Fair Housing Justice Center

The American Property Owners Alliance (The Alliance) is deeply committed to strong fair housing protections that help make property ownership accessible for all Americans. We know that a critical step to achieve equity in homeownership…

Fair Housing Month Feature: Fair Housing Justice Center

By: American Property Owners Alliance May 07, 2020

May 07

2020

The American Property Owners Alliance (The Alliance) is deeply committed to strong fair housing protections that help make property ownership accessible for all Americans. We know that a critical step to achieve equity in homeownership is to support organizations and advocates who are dedicated to protecting fair housing rights and expanding opportunity. Meet Fred Freiberg, the Executive Director of the Fair Housing Justice Center (FHJC), a nonprofit civil rights organization dedicated to eliminating housing discrimination, promoting policies that foster inclusive communities, and strengthening enforcement of fair housing laws. The FHJC serves all five boroughs of New York City and seven surrounding New York counties. FHJC Executive Director, Fred Freiberg, explains the overt and subtle housing discrimination that many people face, how FHJC is tackling discrimination head-on, and the role that stakeholders play in eliminating housing discrimination and creating inclusive communities.
Why is equitable access to housing so important?
Fred: Where one lives matters. Whether one has access to employment and educational opportunities, healthy food options, decent healthcare, as well as parks, recreational, and commercial amenities – nearly every aspect of our lives is affected by our zip code. Even one’s life expectancy is impacted by the neighborhood in which one resides. Too often, housing opportunities in well-resourced areas are not equally available to all people because of persistent and pervasive discrimination in the housing market based on race, ethnicity, disability, and other protected characteristics. More than 53 years after the passage of the federal Fair Housing Act, the housing choices of too many people are severely limited to areas with fewer resources and little or no ability to build the generational wealth that was the key to the growth of the white middle class. A recent Brookings Institution study revealed that the net worth of a typical white family is nearly ten times greater than that of a Black family, and much of that disparity is linked to residential segregation and racial discrimination[1]. And sadly, much of the historical discrimination that occurred was at the hands of the organized real estate industry, which – from its very founding – worked hand in hand with government to create and reinforce racial segregation.
What are common obstacles and discrimination that people face when trying to rent or buy a home?
Fred: While the blatant in-your-face discrimination of the past – the “slammed door” – still occurs, it has been replaced today with more polite and courteous behavior often accompanied by a smile, a handshake, and any number of deceptive statements such as “the apartment was just rented,” “unfortunately there’s a waiting list right now,“ or “I think you would have better luck finding a home in your price range in another area” to name just a few. Consumers should think of it as more of a “revolving door” where people are politely and courteously escorted into, out of, and away from the desired housing. Racial steering and other discriminatory conduct was outlawed by the Fair Housing Act over five decades ago, but as we saw in the 2019 Newsday story – and as we have seen in too many of our own testing investigations since 2005, illegal housing discrimination continues unabated in our metropolitan regions.
“The bottom line is that most victims of racial discrimination in the rental, sale, and financing of housing have no idea that discrimination has occurred because they have no way to compare their treatment against that of a person of a different race or national origin.”
As a result, much of the housing discrimination that occurs today goes unreported, no enforcement action is taken, and the cycle of discrimination and segregation continues. The FHJC recently detailed this reality in a new policy paper, “Ending Racism in Residential Real Estate.”
How does your organization help individuals and families overcome the barriers to housing access to increase equity in housing?
Fred: The FHJC conducts investigations through our testing program to document unlawful housing discrimination. We assist people who file housing discrimination complaints by conducting covert testing investigations and gathering information that may help them meet their burden of proof in an administrative hearing or court of law. But we do not only test in response to complaints. We also conduct proactive systemic testing investigations to identify patterns of housing discrimination that exist in the community. We have successfully challenged illegal housing discrimination in rentals, real estate sales, mortgage lending, assisted living and nursing homes, government housing programs, and other parts of the housing market. Our investigations have led to legal challenges that have opened more than 70,000 housing units to previously excluded populations, recovered more than $50 million in damages and penalties, and changed the way many housing providers and government agencies do business[2]. We also do advocacy work on fair housing policy issues, and we engage in education and outreach to increase public awareness of fair housing rights. The FHJC is the only full-service fair housing organization based in New York City.
What does the future of fair housing look like?
Fred: An honest assessment of our history shows that our segregated housing patterns were the result of a massive, coordinated, intentional, and costly effort by the real estate industry and government over many decades. Undoing the damage will require an equal effort. Five decades after the sponsors of the Fair Housing Act assured Americans that the law was aimed at stopping illegal housing discrimination and replacing our segregated metropolitan regions with “truly integrated and balanced living patterns,” most of the country remains racially segregated and systemic housing discrimination still infects most housing markets. There are some reasons for hope. The new administration is taking steps to restore regulations and rules that had been dismantled in the last administration. One would enable enforcement agencies to more easily utilize a legal theory called “disparate impact” to combat subtle forms of discrimination. Another would empower local and state governments and other recipients of federal funds to more fully implement their duty under the Fair Housing Act to “affirmatively further fair housing.” The Newsday investigation prompted state legislators in New York to propose legislation that would provide ongoing annual funding for systemic testing throughout the State.
“The FHJC has been urging local, state, and federal governments to move away from a purely complaint-responsive enforcement paradigm to one that is more proactive and uses testing to document systemic housing discrimination. The burden of ending housing discrimination should not solely fall on victims of housing discrimination.”
We’re also encouraged that some of the leadership within the real estate industry are coming to terms with their history, working to change the culture of the real estate industry, and encouraging members to take anti-racist positions in their daily real estate practices. Toward that end, FHJC has launched a new social media campaign, “Together We Can End Housing Discrimination,” aimed at enlisting allies in the fight. Unlike most outreach campaigns designed to reach direct victims, the new campaign is directed at people – including those in the real estate industry - who have credible information about discriminatory policies and practices. The agent who knows that a colleague is steering, the broker whose company refuses to do business in certain areas – anyone who’s unsure of what to do about the discrimination they have learned is occurring. Contact the FHJC (anonymously if you prefer) by visiting https://www.fairhousingjustice.org/together-we-can-end-housing-discrimination , and we’ll take it from there. Learn more about Fair Housing Justice Center.

About the American Property Owners Alliance
The American Property Owners Alliance (The Alliance) is a nonpartisan, non-profit organization created to protect and support property owners and pave the way for future property owners. Our mission is to educate property owners about federal issues, laws and policies; to advocate for owners’ rights and interests; and to mobilize, when necessary, to secure those rights and interests.

Sign The American Property Owners Alliance petition to Congress urging them to support property owners and remove barriers to more affordable housing.
[social_warfare] [1] https://www.brookings.edu/blog/up-front/2020/02/27/examining-the-black-white-wealth-gap/ [2] Data provided by Fair Housing Justice Center

CDC eviction moratorium vacated by federal judge, appealed by DOJ

Evictions have been banned for the past year because of the COVID-19 pandemic. That changed in a hurry. And just as quickly changed again. On May 5, Federal Judge Dabney L. Friedrich vacated the eviction…

CDC eviction moratorium vacated by federal judge, appealed by DOJ

By: American Property Owners Alliance May 07, 2020

May 07

2020

Evictions have been banned for the past year because of the COVID-19 pandemic. That changed in a hurry. And just as quickly changed again. On May 5, Federal Judge Dabney L. Friedrich vacated the eviction ban established by the Centers for Disease Control and Prevention (CDC). This comes on the heels of a lengthy legal battle between the Alabama Association of REALTORS® and the U.S. Department of Health and Human Services. However, the Justice Department is appealing the decision on behalf of the CDC and Friedrich’s ruling has been stayed pending the high-stakes appeal. The ban was originally slated to expire June 30, but the CDC has extended the ban several times over the past year, meaning the June 30 date could have potentially moved even further into the future. The Alabama Association of REALTORS® were joined by the Georgia Association of REALTORS®, and other plaintiffs, in filing a lawsuit after the CDC extended the moratorium in November 2020. That lawsuit came when the CDC expanded the reach of its ban to include properties outside of those that were receiving federal assistance. The REALTORS® argued that more and more renters have been abusing these protections and have simply stopped paying rent. The main argument though, and likely the most important thing that led to Judge Friedrich’s decision, was that the federal government went too far by extending the moratorium to include properties that were outside the purview of the federal government. “It is the role of the political branches, and not the courts, to assess the merits of policy measures designed to combat the spread of disease, even during a global pandemic,” Friedrich wrote in the memorandum opinion, according to Inman. “The question for the Court is a narrow one: Does the Public Health Service Act grant the CDC the legal authority to impose a nationwide eviction moratorium? It does not. “Because the plain language of the Public Health Service Act, 42 U.S.C. § 264(a), unambiguously forecloses the nationwide eviction moratorium, the Court must set aside the CDC Order, consistent with the Administrative Procedure Act and D.C. Circuit precedent. For the foregoing reasons, the plaintiffs’ motion for expedited summary judgment is granted and the Department’s motion for summary judgment and partial motion to dismiss are denied.” The CDC extended the moratorium last summer, at Thanksgiving, and then again two days before it was set to expire in March. “The COVID-19 pandemic has presented a historic threat to the nation’s public health,” CDC director Dr. Rochelle Walensky said in a statement to CNBC. “Keeping people in their homes and out of crowded or congregate settings — like homeless shelters — by preventing evictions is a key step in helping to stop the spread of COVID-19.” According to a March report issued by the Center on Budget & Policy Priorities, 15% of adult renters in America, or roughly 1.6 million Americans, were behind in their rent. Moody’s Analytical Report indicated that approximately $57 billion in back rent was owed in the month of January. Congress tried to eliminate as much of that as possible with $25 billion in rental assistance in the December stimulus package and an additional $27 billion in Biden’s American Rescue Plan that passed in March. On the local level, existing rental assistance programs are being bolstered and new programs are being launched. According to the National Low Income Housing Coalition, more than 200 of these programs are open and accepting applications. CNN reported that tenants must meet an income requirement, show they've lost income during the pandemic and demonstrate a risk of homelessness in order to qualify for the money. And while there is a stay in place and evictions aren’t going to start happening next week, whether the appeal overturns Friedrich’s decision or not will be determined by what judges are chosen for the panel. "The underlying ruling in this case is pretty weak, in my opinion," Shamus Roller, executive director of the National Housing Law Project told NPR. "Congress in December extended the CDC order. So clearly Congress thinks that the CDC has this authority. "It'll be a three judge panel that will review this. It will depend greatly on which three judges get selected." The Trump administration put in place several conservative federal judges who, if chosen, might view this moratorium as an example of governmental overreach. This explains why Roller said the judges chosen for this panel will be so important. [rsnippet id="7" name="Global Article Footer"]

Is Biden’s grant program for affordable housing more carrot or more stick?

President Joe Biden wants to use an historic amount of federal dollars to create more affordable housing in America. But to do so, he is going to have to find his way through a wall…

Is Biden’s grant program for affordable housing more carrot or more stick?

By: American Property Owners Alliance May 05, 2020

May 05

2020

President Joe Biden wants to use an historic amount of federal dollars to create more affordable housing in America. But to do so, he is going to have to find his way through a wall of seemingly impenetrable red tape so that federal money can influence local governance. It’s not going to be easy, and some are doubting that he can make it happen. But Biden is going to give it a try by putting the wooden rabbit out in front of the Greyhound American Mayors and see if they’ll chase it. Much of the cost of building new housing is determined at the local level. Almost 20% of the cost of building a single-family home comes from state and local regulations such as permitting and development fees, zoning rules and land-use restrictions. With all of these costs, building affordable housing is next to impossible. However, Biden wants to try to tackle the problem with a new competitive grant program. This would entice state and local governments to scale back costly zoning and land-use policies. That’s a start, but is it enough? “To say, ‘We’re not going to give you money for affordable housing if you don’t make it easier to build affordable housing, [which is hard] because you don’t want affordable housing,’ — it’s ridiculous,” David Dworkin, president and CEO of the National Housing Conference, an affordable housing advocacy group told Politico. “You need carrot and stick, not carrot or stick, to make it work.” Dworkin added that if there was a serious effort to make a push to cut through some of the exclusionary zoning red tape, that it would tie federal transportation dollars to the elimination of these barriers, and that’s a much larger pot of gold at the end of the rainbow than is usually shared with states. The reason the Biden Administration has dodged the notion of putting more pressure on local officials to change these regulations is because it puts the President in a boxing ring without any gloves against some haymaker throwing Mayors who have basically drawn a line in the sand about tying local regulations to federal dollars. “All these places are reluctant to touch zoning, or it would have been done already,” Jim Parrott, a former housing adviser to the Obama White House, also told Politico. “(It) depends totally on how big the carrot is and whether they deploy sticks.” Carrot and stick analogies aside, it’s not just housing folks who are wondering if Biden’s plan will ever come to fruition as outlined, or if it will require some more federal muscle. Some Democrats have argued that there isn’t enough federal money to back this idea, meanwhile Republicans are arguing that infrastructure plan as a whole contains too much federal spending. With there being pushback on both sides of the spectrum, as well as concern being expressed by housing advocates, it could make it hard for Biden to get this proposal across the goal line and make homes more affordable for many Americans. Biden’s pitch calls for two million affordable housing units to be developed, preserved, or rehabilitated using a whopping $213 billion. Homebuilders also have their doubts about Bien’s plan. After all, two million homes is a huge number. To make that happen, Congress is going to need to get creative – maybe take Biden’s plan and use it to spark something more appealing and realistic. Biden wants to commit $40 billion to create more public housing. Progressive Democrats feel that’s not enough and want to see that number nearly double. Meanwhile Republicans feel building more public housing is taking a step backwards because of its dependency on the government. Many experts believe that Biden’s infrastructure plan will pass through both the House and Senate, but not as currently proposed. The question is, when it’s done, will there be a boon or a bust for affordable housing in America? Only time will tell. [rsnippet id="7" name="Global Article Footer"]

Fair Housing Month Feature: Fair Housing Center of Central Indiana

The American Property Owners Alliance (The Alliance) is deeply committed to improving fair housing protections to make property ownership accessible for all Americans. We know that a critical step to achieve equity in homeownership is…

Fair Housing Month Feature: Fair Housing Center of Central Indiana

By: American Property Owners Alliance May 04, 2020

May 04

2020

The American Property Owners Alliance (The Alliance) is deeply committed to improving fair housing protections to make property ownership accessible for all Americans. We know that a critical step to achieve equity in homeownership is to support organizations and advocates who are dedicated to protecting fair housing rights and expanding opportunity. Meet Amy Nelson, the Executive Director of Fair Housing Center of Central Indiana (FHCCI), a nonprofit fair housing organization that works to create equal housing opportunities in Central Indiana by eliminating housing discrimination through advocacy, enforcement, education and outreach. The FHCCI was established through a U.S. Department of Housing & Urban Development grant awarded to the National Fair Housing Alliance to establish a fair housing agency in central Indiana. FHCCI Executive Director, Amy Nelson explains the impact of where you live on your life, why equitable access to housing is critical, and the role we all play in fighting housing discrimination and creating equal housing opportunities.
Why is equitable access to housing so important?
Amy: We can so often track where we live as the basis for so much in our lives. We see this in formerly redlined neighborhoods having higher rates of asthma and diabetes. How here in my city we have a staggering 17-year life expectancy rate difference simply due to where one lives[1].
“It’s families suffering in substandard housing due to affordability barriers. It’s the growing number of studies showing us that with one’s zip code, researchers can predict if your child will finish high school, what their income will be, or whether they will be incarcerated. It’s children moving from school to school due to their family just being served an eviction, even if no fault of their own, and facing screening barriers. All based on where we live. Housing is critical.”

What are common obstacles and discrimination that people face when trying to rent or buy a home?
Amy: FHCCI specifically investigates allegations of housing discrimination received from the public as well as conducting systemic investigations. Unfortunately, housing discrimination happens far too often. Whether it is a recent client being sexually harassed by their landlord, or a lender refusing to make loans to a black family, or a mom with three kids being told she has too many kids for a two bedroom, or a recent client who had to “White wash” her home to get a fair appraisal for a refinance, housing discrimination is far too commonplace.
How does your organization help individuals and families overcome the barriers to housing access to increase equity in housing?
Amy: We have four main programs working toward our mission: Advocacy, Education, Inclusive Communities, and Public Policy. Through our Advocacy Program, we file enforcement actions to address violations of fair housing law. Our Education Program actively works to share information so everyone understands their rights and responsibilities under fair housing laws. Our Inclusive Communities Program gives back to the community and to those harmed by discriminatory practices. And finally, in our Public Policy Program, we work to advance strong housing laws with particular attention to fighting for those most at risk of housing loss and harm. Just this month, we released a new video through our Education Program, History of Real Estate Sales Discrimination in Indianapolis that we premiered at our annual Fair Housing Conference last week. This is a companion to last year’s History of Redlining video.
What does the future of fair housing look like?
Amy: Truly achieving fair housing requires the full attention and support of the federal government, the courts, and all of us. Fair housing laws have never had funding or the strength of will to truly address our nation’s history of discriminatory practices that still impact our neighborhoods and our country today. I remain hopeful we can achieve the vision of fair housing laws that allows each person to have equal housing opportunity. We need to demand such of our leaders and keep a focus on housing. Learn more about Fair Housing Center of Central Indiana.

About the American Property Owners Alliance
The American Property Owners Alliance (The Alliance) is a nonpartisan, non-profit organization created to protect and support property owners and pave the way for future property owners. Our mission is to educate property owners about federal issues, laws and policies; to advocate for owners’ rights and interests; and to mobilize, when necessary, to secure those rights and interests.

Sign The American Property Owners Alliance petition to Congress urging them to support property owners and remove barriers to more affordable housing.
[social_warfare]

Biden restores fair housing rules Trump gutted

Although the month of April is annually observed as Fair Housing Month, the reality for Black America and other people of color is that housing has not significantly changed since the 1968 federal enactment of…

Biden restores fair housing rules Trump gutted

By: eurweb.com Apr 27, 2020

Apr 27

2020

Although the month of April is annually observed as Fair Housing Month, the reality for Black America and other people of color is that housing has not significantly changed since the 1968 federal enactment of the Fair Housing Act. Its enactment came seven days after the assassination of Dr. Martin Luther King, Jr. who had strongly advocated fair and open housing.

But 53 years after an historic enactment, race and place remain the determining factors of who is allowed the opportunity to build wealth, as well as to share wealth’s financial advantages across family generations.

What makes this year’s observance more hopeful are renewed efforts by both President Biden and Congress to correct decades’ long denials of full access to the American Dream.

For the first time in more than four years, the nation’s President committed his Administration to the active pursuit of fair housing. Beginning with a memorandum coinciding with his inauguration on January 26th, President Biden directed the Secretary of Housing and Urban Development (HUD) to “as soon as practicable, take all steps necessary to examine the effects of” the Trump Administration’s 2020 repeal of two key housing rules issued by the Obama Administration: the 2013 Disparate Impact Standard and the 2015 Affirmatively Furthering Fair Housing.

Read the full article on eurweb.com

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Two Keys To A 2021 Refresh: Bringing Fair Housing Into The 21st Century

This April marks the 53rd anniversary of the Civil Rights Act of 1968 (also known as the Fair Housing Act), which “prohibited discrimination concerning the sale, rental, and financing of housing based on race, religion,…

Two Keys To A 2021 Refresh: Bringing Fair Housing Into The 21st Century

By: Forbes Apr 27, 2020

Apr 27

2020

This April marks the 53rd anniversary of the Civil Rights Act of 1968 (also known as the Fair Housing Act), which “prohibited discrimination concerning the sale, rental, and financing of housing based on race, religion, national origin, [and] sex.” Brave individuals fought for something we often take for granted, like the Rev. Dr. Martin Luther King, Jr., whose assassination was a catalyst for the final passage of the act, and Senator Walter Mondale, the future Democratic Party’s presidential nominee who championed fair housing for years.

But perhaps a name you haven’t heard of is Senator Edward Brooke. Ed Brooke, the first African American popularly elected to the U.S. Senate, co-authored the amendment that would prohibit housing discrimination. Senator Brooke worked across the political divide with leaders like Senator Mondale to enact the Fair Housing Act as law.

I’ve recently wondered how these heroes of American history would view the state of “fair housing” today. Studies show that while overt discrimination has dropped over the decades, less obvious forms of discrimination persist. People of color, for instance, are shown significantly fewer, and less appealing, rental properties in blind studies. According to the Urban Institute, Black and Hispanic renters are shown 11.4% and 12.5% fewer rental units, respectively, than white renters. Housing has ramifications in other related aspects of life such as health, education and job security. For example, communities of color often grapple with poverty and subpar schools.

I believe that there are two ideas that a new generation of real estate leaders can pioneer to help build on the fair housing platform that Senator Brooke and others began.

Read the full article from Forbes

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Supporting Fair Housing, Inclusivity in Your Community

Home and property ownership is a nearly universal part of the American dream. An unfortunate reality of our nation’s past and present, however, is that this dream has been much more difficult to achieve among…

Supporting Fair Housing, Inclusivity in Your Community

By: MyMotherlode.com Apr 27, 2020

Apr 27

2020

Home and property ownership is a nearly universal part of the American dream. An unfortunate reality of our nation’s past and present, however, is that this dream has been much more difficult to achieve among minority groups.

April marks the 53rd anniversary of the passage of the landmark 1968 Fair Housing Act, the federal law that protects Americans against housing and property ownership discrimination on the basis of race, color, national origin, religion, sex, familial status or disability. But despite all the progress this nation has made over recent decades, people searching for a home today face many of the same challenges they did 53 years ago. Home and property ownership rates for Black Americans are nearly 30 percentage points lower than that of white Americans, and after decades of gain, the Black homeownership rate has now fallen back to where it was a half-century ago.

“During this time, we honor the sacrifices and tenacity shown by so many during the fight to expand equal access to housing and property in America,” said National Association of Realtors® President Charlie Oppler. “As the largest trade association in the world, NAR has a powerful voice, and we will continue to use that voice to champion efforts to build more inclusive communities throughout our nation.”

Read the full article on MyMotherlode.com

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Biden’s infrastructure plan includes $213 billion for affordable housing

President Biden recently unveiled his infrastructure proposal, asking Congress to approve $2 trillion in spending. And while much of that proposal involves basic repairs to roads and bridges, as well as upgrades to the electrical…

Biden’s infrastructure plan includes $213 billion for affordable housing

By: American Property Owners Alliance Apr 26, 2020

Apr 26

2020

President Biden recently unveiled his infrastructure proposal, asking Congress to approve $2 trillion in spending. And while much of that proposal involves basic repairs to roads and bridges, as well as upgrades to the electrical grid and expanding access to broadband internet, the plan calls for a whopping $213 billion to create more affordable housing. Adding to the housing stock is a priority of the Biden administration, and the plan would build or rehabilitate more than 500,000 dwellings for low- and middle-income homebuyers, as well as retrofit more than two million commercial buildings and affordable housing units, to create more affordability in the marketplace. Specifically, Biden is asking Congress to approve the Neighborhood Homes Investment Act - legislation that would provide an additional $20 billion in tax credits for affordable housing through 2026. There are other incentives tied to affordable housing, such as creating a grant program for local jurisdictions that eliminate red tape that slows or prevents new housing development, like exclusionary zoning laws. The big debate that will certainly take place in Congress is where this vast amount of funding will come from. President Biden’s plan is to raise taxes on large and multinational corporations to offset the cost of his infrastructure goals. His Made in America Tax Plan would raise the corporate tax rate to 28% from the 21% rate that was put in place as part of former President Trump’s Tax Cuts and Jobs Act of 2017. The top corporate tax rate was 35% prior to 2017. The plan also provides an increase in taxes for the earnings American companies make outside of the U.S. The Department of Transportation is certainly linked to this latest proposal as well, as prior to the unveiling of the plan it announced it was seeking applicants for the 2021 Infrastructure for Rebuilding America grant program, which provides $889 million to fund national and regional transportation projects. This is important to the affordable housing piece of the plan as the department will consider whether a development project is in a federally designated community development zone or opportunity zone. If so, improvements in transportation in those areas could pique the interest of real estate developers to also take advantage of those opportunity zone incentives to build affordable housing close to new transportation hubs, or at least areas that have easy access to new transportation. [rsnippet id="7" name="Global Article Footer"]

Eviction moratorium extended through June, but is that a positive?

Two days before it was set to expire, the Centers for Disease Control (CDC) announced that it was extending its nationwide eviction moratorium through the end of June. This puts an additional 90 days onto…

Eviction moratorium extended through June, but is that a positive?

By: American Property Owners Alliance Apr 26, 2020

Apr 26

2020

Two days before it was set to expire, the Centers for Disease Control (CDC) announced that it was extending its nationwide eviction moratorium through the end of June. This puts an additional 90 days onto the moratorium, which was supposed to expire at the end of March. This moratorium, which was put in place in September 2020 as a way to try and assist renters who may have been financially impacted by the COVID-19 pandemic, has been challenged in courts throughout various states in the country. This moratorium, while helpful in theory, has created unintended consequences in the months since it came into existence. It has created a backlog of pending evictions because some renters aren’t paying their rent, and as soon as it is lifted, the courts will be deluged with eviction hearings. And secondly, it has thrust mom-and-pop landlords into a financial bind of their own, suddenly forced to make mortgage payments on properties in which they have not been receiving rent from their tenants. These properties also tend to have slim profit margins to begin with, meaning that after a couple months, the property owner is in danger of getting behind or even defaulting on the mortgage. The National Association of REALTORS® (NAR), has been at the forefront of the challenges to the moratorium and has successfully lobbied for federal rental assistance in an effort to prevent the problems created by the moratorium becoming a crisis that hurts both the landlords and the tenants. “NAR helped secure $25 billion in 2020 and another $21.55 billion (in March) in federal rental assistance funding, which can be paid directly to property owners,” said NAR chief advocacy officer Shannon McGahn in a press release. “This was critical to averting a multifamily real estate crisis, as many of our nation’s housing providers are mom-and-pop operations. “Our focus now turns to ensuring there is not just enough funding but also a smooth implementation of rental assistance while the various challenges to eviction bans work their way through the courts.” The CDC order has allowed for an eviction to be stayed if a renter declares that they have tried to make timely payments of their rent, meet certain employment and income requirements, and have pursued all appropriate government assistance. With the announcement of the extension in March, the CDC expanded the order to include renters “who are confirmed to have, who have been exposed to, or who might have been exposed to COVID-19 and take reasonable precautions to spread the disease.” And while this is a hit to the property owners, the housing providers can still evict tenants for non-financial reasons that would violate the landlord-tenant contract, including property damage and criminal activity. “Rental assistance averted two crises—one for mom-and-pop property owners who did not have a reprieve from their bills and relied on their rental income and one for tenants who would have been responsible for months of back rent when the eviction moratoriums expired,” McGahn said. “We must continue to look for ways to protect tenants and property owners from further financial turmoil while ensuring housing in America remains safe and stable for decades to come.” [rsnippet id="7" name="Global Article Footer"]

Fair Housing Month Feature: NeighborWorks America

The American Property Owners Alliance (The Alliance) is deeply committed to improving fair housing protections to make property ownership accessible for all Americans. We know that a critical step to achieve equity in homeownership is…

Fair Housing Month Feature: NeighborWorks America

By: American Property Owners Alliance Apr 23, 2020

Apr 23

2020

The American Property Owners Alliance (The Alliance) is deeply committed to improving fair housing protections to make property ownership accessible for all Americans. We know that a critical step to achieve equity in homeownership is to support organizations and advocates who are dedicated to protecting fair housing rights and expanding opportunity. Meet NeighborWorks America, a nonprofit with a network of nearly 250 organizations nationwide[1] that creates opportunities for people to live in affordable homes, improve their lives and strengthen their communities. NeighborWorks America’s Senior Vice President Lee Anne Adams explains the common barriers people face in the homebuying process, how the NeighborWorks network helps people access sustainable homeownership, and what the future of fair housing looks like.
Why is equitable access to housing so important?
Lee Anne: Homeownership is a means to build long-term generational wealth. Passing on a home and land from one generation to the next creates a path to family wealth-building. That wealth also provides a means for families to invest in their children’s education or to start a business. Before the passing of the Fair Housing Act in 1968, black families were locked out of the chance to create generational wealth because they were denied mortgage loans and access to certain neighborhoods. Our 2020 Housing and Financial Capability Survey found that only 40% of black people own their home[2]. In reality, the gap between black and white homeownership rates is wider now than it was prior to when race-based discrimination was legal. Homeownership is one of the most impactful ways to help address the racial wealth gap in our nation.
What are common obstacles and discrimination that people face when trying to rent or buy a home?
Lee Anne: Common obstacles people face when trying to rent or buy a home include lack of down payment or first month’s rent, access to affordable credit, lack of affordable supply and lack of knowledge about and/or resources to help with the process. We recommend that potential homebuyers not go it alone. HUD-approved housing counselors are available at NeighborWorks organizations across the country to help people seeking housing stability prepare for buying a home. This includes helping people understand the process, what to expect, how to set financial goals and improve their credit score and how to choose a first mortgage product.
How does your organization help individuals and families overcome the barriers to housing access to increase equity in housing?
Lee Anne: Our network of nearly 250 organizations nationwide helps people access sustainable homeownership by offering a range of services from financial coaching to pre-purchase counseling and homebuyer education to down payment assistance programs and affordable first mortgage products. Our network also owns and manages nearly 180,000 affordable rental homes for individuals and families[3]. We are proud to have partnered with Wells Fargo since 2012 on the Let’s Invest for Tomorrow (LIFT) down payment assistance program, which has provided more than $330 million in down payment assistance and created more than 24,000 homeowners[4], 63% of which are minorities[5]. Over 40% of LIFT participants report that they pay less for housing than they did prior to closing[6]. One borrower’s monthly housing costs decreased from $1,000 per month to about $700 once they became a homeowner.
What does the future of fair housing look like?
Lee Anne: Our industry must remain diligent in our work and exponentially expand opportunities and assistance for people to obtain and sustain affordable housing.
“To overcome the longstanding and growing inequities in our communities, we need to reach common goals and align resources across sectors to make impact.”
A variety of partners need to invest in down payment assistance programs, housing counseling, financial coaching and other services. Additionally, policies and financing that favor affordable single-family and multi-family development is critical. While the challenges are real, the possibilities are numerous. With investment to scale what works and new policy solutions, we can remove barriers and create opportunities for all people to access housing. Learn more about NeighborWorks America.

About the American Property Owners Alliance
The American Property Owners Alliance (The Alliance) is a nonpartisan, non-profit organization created to protect and support property owners and pave the way for future property owners. Our mission is to educate property owners about federal issues, laws and policies; to advocate for owners’ rights and interests; and to mobilize, when necessary, to secure those rights and interests.

Sign The American Property Owners Alliance petition to Congress urging them to support property owners and remove barriers to more affordable housing.
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Take Advantage of These Free Online Seminars and Videos for Fair Housing Month

As we welcome Spring this April we also welcome Fair Housing Month. After such a tumultuous 2020, it’s a particularly important time to focus on this matter and put great efforts into providing equal and…

Take Advantage of These Free Online Seminars and Videos for Fair Housing Month

By: American Property Owners Alliance Apr 19, 2020

Apr 19

2020

As we welcome Spring this April we also welcome Fair Housing Month. After such a tumultuous 2020, it’s a particularly important time to focus on this matter and put great efforts into providing equal and fair housing for everyone. The COVID-19 pandemic highlighted the firsthand connection between health and housing when many officials refused to view these as human rights, despite the Universal Declaration of Human Rights. Millions of Americans lived in fear of losing their homes during these unforeseen hardships, and many did. Household Pulse reports that millions of residents still owe large housing payments – approximately 12.1 million adult renters as of mid-March. It’s apparent now more than ever that the country’s social safety net programs offer incompetent security. Whether you’re a renter, landlord, investor, or simply hoping to educate yourself on the matter, there are a plethora of free seminars, workshops, Q+As, and films focusing on fair housing that you can take advantage of this month. 1. Jim Crow of the North Film and Panel Discussion / Thursday, April 22, 2021, 7:30 PM – 9:30 PM EDT Jim Crow of the North is a compelling Twin Cities PBS documentary that examines the history of redlining in Minneapolis and systematic racism both then and today. The film shows how segregation has and continues, to construct cities. In honor of Fair Housing Month, High Plains Fair Housing Center (FHC) will be hosting an online watch party and leading a discussion panel. Experts will talk about the film and engage on housing discrimination over the years and what it looks like today. They will also be discussing how others can help to put an end to housing discrimination and different ways to get involved, particularly in North Dakota, where High Plains FHC is based. The center is a non-profit organization working tirelessly to defeat housing discrimination. For those who can’t make the watch party, you can watch the film here and still catch the discussion at 9:30 PM on April 22nd. 2. Know Your Rights! Fair Housing & Tenant Skills Webinar / Monday, April 26, 2021, 11:00 AM – 12:30 PM EDT Springfield Town Library of Vermont is hosting this workshop on fair housing, specifically in the state of Vermont but they will be discussing the fundamentals of tenant rights that apply to renters all over the country. Wendy Rowe and Corrine Yonce of Champlain Valley Office of Economic Opportunity (CVOEO) will be taking the lead in this conversation, who specializes in housing advocacy programs. CVOEO works to bring issues of economic, social, and racial justice to light and help members of the community attain financial autonomy. This webinar will fill you in on the A-Zs of your rights as a tenant. From security deposits to the account of the Fair Housing Act, this workshop will cover it all and welcomes questions. Start your week off with this informative webinar on Monday, the 26th at 11 AM. 3. Fair Housing Friday: Going Forward / Friday, April 30, 2021, 12:00 PM – 1:00 PM EDT This is another great webinar from High Plains FHC in North Dakota with a different approach. In this discussion, the team at High Plains FHC will reflect on the past year as a whole and what impactful changes have been made. Specifically, they will take a look at how Bostock v. Clayton County finally labeled LGBTQ+ housing discrimination under sex discrimination. They will be discussing other recent White House developments on the matter as well, such as President Biden’s memorandum on housing discrimination. This discussion will allow for impressions, criticisms, and most importantly, plotting what we can do moving forward to ensure every individual is receiving fair housing. Chime in on Friday, the 30th at noon. 4. Housing Segregation and Redlining in America: A Short History / 6 ½-minute video This short video is an excellent refresher on the Fair Housing Act that’s easy to watch and understand. Code Switch, an NPR collective and podcast focusing on race, ethnicity, and culture, put this video together to express an important message – “Housing segregation is in everything.” Folks cheered to the end of housing discrimination when the Civil Rights Act was passed in 1968, as the act made it illegal to do so. Although, this law certainly hasn’t stopped discrimination. Code Switch co-host Gene Demby uses this platform to point out why we still see so much segregation within housing and neighborhoods today. Demby elaborates on the impact government actions have had on communities. 5. America Divided: A House Divided / 44-minute video America Divided is a documentary series that explores the inequality crisis by revealing America’s systemic issues. With exceptional production and noteworthy guests, their raw approach will offer powerful and motivational perspectives. This episode follows Norman Lear, co-producer alongside Common and Shonda Rhimes, as he focuses on housing in NYC. Lear delves into the crisis of the unhoused community in the metropolis. Over the course of the episode, he chats with New Yorkers regarding housing to better understand the situation and examine the city’s affordability crisis. "This is our America. And it isn’t what we promised," Lear solemnly claims. 6. Seven Days / 9-minute video This short film was released in 2018 by Nationwide, in partnership with the National Fair Housing Alliance, and recounts the seven days between Martin Luther King Jr.’s assassination and the signing of the Fair Housing Act. When President Johnson announced that MLK Jr. was shot, a nationwide upheaval broke out. Johnson clambered to keep the country together and accelerate the fair housing bill, which he managed to do in just seven days. This 9-minute video does an excellent job narrating that week in 1968 and illustrating the gravity of the Civil Rights Act. President Johnson quotes in the documentary, “Few in the nation believed that fair housing would, in our time, become the unchallenged law of this land. And indeed this bill has had a long and stormy trip.” Johnson remarks on the struggles of passing this bill in 1968, and now, 53 years later, Americans are still fighting for equal rights. 7. The Basics of the Fair Housing Act / 90-minute video Lastly, for those who are somewhat unfamiliar with the Fair Housing Act, or the Civil Rights Act of 1968, the U.S. Department of Housing and Urban Development (HUD) offers this in-depth video that was actually created as a training program, so you know all details will be covered. While this is an extensive training video, it was created for both housing providers and anyone interested in educating themselves and learning more about the Fair Housing Act. The video includes all of the basics of the Fair Housing Act with a comprehensive commentary. When introducing the video, HUD’s Assistant Secretary for Fair Housing and Equal Opportunity, Anna Maria Farias, goes on to say, “But more importantly, today's training will help you gain a clearer understanding of the continued relevance of this landmarked law.” HUD is committed to spreading this information far and wide while continuing to work incessantly to stop discrimination. “Discrimination still exists. Each year, HUD and our many fair housing partners receive thousands of complaints from individuals and families alleging that their rights were violated, so our work isn’t done,” she continues. Regardless of your living situation, taking advantage of these free resources during Fair Housing Month will benefit you, your community, and anyone you encounter down the road. As Farias says, “Housing discrimination is not only wrong, it’s illegal, and in a country founded on the principles of justice and equality, housing discrimination is unacceptable.” [rsnippet id="7" name="Global Article Footer"]

Our Priorities: COVID-19

The COVID-19 pandemic has greatly impacted every American for more than a year. Housing has felt the brunt of that impact. Whether it’s a homeowner, a landlord, a renter or a person or family looking…

Our Priorities: COVID-19

By: American Property Owners Alliance Apr 07, 2020

Apr 07

2020

The COVID-19 pandemic has greatly impacted every American for more than a year.

Housing has felt the brunt of that impact. Whether it’s a homeowner, a landlord, a renter or a person or family looking to buy their first home, COVID-19 has wreaked havoc on what we knew – or thought we knew – about the housing market.

That’s why the American Property Owners Alliance has put together this page: Our Priorities: COVID-19.

It’s a catch-all for what the new normal will look like when it comes to housing and how the ever-changing face of the housing world will be forever impacted by this pandemic.

Learn More

News and Resources

The latest from the Alliance, our partners, and peers.

Choose your topic

First-Time Home Buyer Resource Part 2: Navigating the Market as a First-Time Buyer

First-Time Home Buyer Resource Part 2: Navigating the Market as a First-Time Buyer

Access the First-Time Home Buyer Resource Part 2

A Big Change in Housing Transactions: Everything You Need To Know

A Big Change in Housing Transactions: Everything You Need To Know

U.S. Government Passes Spending Bill to Fund Several Key Housing Programs, But the Threat of a Partial Shutdown Remains

U.S. Government Passes Spending Bill to Fund Several Key Housing Programs, But the Threat of a Partial Shutdown Remains

Once Again, A Looming Government Shutdown Could Halt Access to Housing Resources

Once Again, A Looming Government Shutdown Could Halt Access to Housing Resources

Executive Director Newsletter Q1 2024

Executive Director Newsletter Q1 2024

Black History Month Spotlight: The Path to Inclusive Homeownership

Black History Month Spotlight: The Path to Inclusive Homeownership

The Current Landscape

Pro-Housing Organizations and Advocates

Pro-Housing Policies

Your Voice Matters

Three Leaders Paving the Way for Equitable Homeownership

Three Leaders Paving the Way for Equitable Homeownership

Ashley Bell, Founder & CEO of Ready Life

LaRese Purnell, Founder & Managing Partner of CLE Consulting

Marcia Fudge, Secretary for the U.S. Department of Housing and Urban Development

Become An Advocate for Equitable Homeownership

Take Advantage of New Energy Efficiency Tax Credits for Homeowners

Take Advantage of New Energy Efficiency Tax Credits for Homeowners

Support this Petition.

2024 Preview: What’s Ahead for The Alliance

2024 Preview: What’s Ahead for The Alliance

Executive Director Newsletter Q4 2023

Executive Director Newsletter Q4 2023

Stay In-The-Know on Alliance Policy Initiatives: Sign up for The Alliance’s Executive Director newsletter.

Fill out the form below to receive quarterly email updates from Executive Director, Colin Allen, on areas of focus and progress in protecting property ownership.

The Alliance’s 2023 By the Numbers

The Alliance’s 2023 By the Numbers

Mobilizing Audiences for Action

Sharing Resources & Updates

Convening the Experts & Strengthening Communities

What’s In Store for The Alliance?

First-Time Home Buyer Resource Part 1: Take The First Steps Towards Homeownership

First-Time Home Buyer Resource Part 1: Take The First Steps Towards Homeownership

Access the First-Time Home Buyer Resource

Take Advantage of These Homeowner Tax Credits Before the New Year

Take Advantage of These Homeowner Tax Credits Before the New Year

How Alabama can strengthen property owner protections

How Alabama can strengthen property owner protections

The Alliance Leads Discussion on Financial Education and Homeownership in Montgomery, Alabama

The Alliance Leads Discussion on Financial Education and Homeownership in Montgomery, Alabama

Protecting Your Investment Through Estate Planning

Protecting Your Investment Through Estate Planning

Unlocking Generational Wealth Through Homeownership: A Conversation in Cleveland, Ohio

Unlocking Generational Wealth Through Homeownership: A Conversation in Cleveland, Ohio

Stay In-The-Know on Alliance Policy Initiatives: Sign up for The Alliance’s Executive Director newsletter.

Fill out the form below to receive quarterly email updates from Executive Director, Colin Allen, on areas of focus and progress in protecting property ownership.

Ohio needs to close its unjust tax foreclosure loophole

Ohio needs to close its unjust tax foreclosure loophole

Protecting and Expanding America’s Affordable Housing Supply

Protecting and Expanding America’s Affordable Housing Supply

Financial Education Support Can Improve Black Homeownership Rates

Financial Education Support Can Improve Black Homeownership Rates

Executive Director Newsletter Q3 2023

Executive Director Newsletter Q3 2023

Calling for an End to Home Equity Theft

Federal Housing Finance Agency Multi-Family Tenant Protections Comment Portal

#UnlockingHomeownership Wins During National Homeownership Month

Stay In-The-Know on Alliance Policy Initiatives: Sign up for The Alliance’s Executive Director newsletter.

Fill out the form below to receive quarterly email updates from Executive Director, Colin Allen, on areas of focus and progress in protecting property ownership.

Broadening the Path to Homeownership: A Q&A with Ready Life’s Ashley Bell

Broadening the Path to Homeownership: A Q&A with Ready Life’s Ashley Bell

Massachusetts property owners need better protections

Massachusetts property owners need better protections

Survey Indicates Americans Want an End to Home Equity Theft

Survey Indicates Americans Want an End to Home Equity Theft

National Homeownership Month Event in Dallas

National Homeownership Month Event in Dallas

Stay In-The-Know on Alliance Policy Initiatives: Sign up for The Alliance’s Executive Director newsletter.

Fill out the form below to receive quarterly email updates from Executive Director, Colin Allen, on areas of focus and progress in protecting property ownership.

The Alliance and Axios Lead Critical Housing Discussion in Dallas