Do we need more mixed-income housing? Why or why not? The following data and observations were collected via a survey we conducted from late January through mid-February, distributed via Shelterforce Weekly and social media.
For first-time homebuyers with good credit, stable employment, and savings for a down payment, buying a home is more affordable than it has been in decades. For everyone else, however, lower home prices have been a disaster.
The federal government's Home Affordable Modification Program has a lot of mass appeal. But banks have been slow to act and HAMP was never intended to be the sole solution to the foreclosure crisis. HAMP needs backup.
Everybody hates public housing, except the low-income people who live there and the people on the long waiting lists to get in. After years of neglect, the Obama administration wants to save public housing for future generations. Let's let them.