COVID-19 exacerbates an existing affordable housing shortage in the Southeast, which lacked over a million affordable rental units before the virus outbreak began. Partners Update explores efforts to enact eviction moratoriums under the CARES Act.
The Atlanta Fed president has coauthored a paper that examines Low-Income Housing Tax Credit housing in Chicago and the potential to create inclusive communities. This Partners Update article summarizes the paper's findings.
The event recognized the 50th anniversary of the Fair Housing Act, discussed its legacy, and explored solutions to racial equity challenges that persist. The Federal Reserve Bank of Atlanta's Community and Economic Development group, Georgia ACT, Georgia State University's Urban Studies Institute, National Fair Housing Alliance, Metro Fair Housing Services Inc., and Atlanta Legal Aid Society cohosted the event in Atlanta.
The authors analyze data on housing costs and supply by household income level. They demonstrate the widespread shortage of housing that is affordable for low-income renters in large metros, small towns, suburbs, and nonmetro areas throughout the Southeast.
Community development and health professionals often work with the same residents in separate silos, but that is beginning to change. Partners Update previews a paper on emerging health-community development partnerships in the Southeast.
Health and community development professionals are learning to collaborate to address the social determinants of health. The author investigates promising partnerships in the Southeast in this first of a two-part series.
The event explored how health and community development professionals are learning to collaborate. Participants represented a variety of sectors, including health care, public health, community development, housing, government, and research. The Build Healthy Places Network, the Federal Reserve Bank of Atlanta, and the Georgia Health Policy Center cohosted the event, which was held in Atlanta during the national American Public Health Association Conference.
When grandma dies without a will, property is passed on to her children, and then to each successive generation. Listen to experts discuss the complications of heirs property in a special edition episode of the Economy Matters podcast.
A recent discussion paper examines housing instability and the rise of institutional investors in Fulton County's single-family rental housing. Partners Update discusses the findings and implications for communities and families.
Institutional investors purchased thousands of homes across the country to rent them after the real estate and financial crisis. The authors examine how the rise of the large corporate landlord in the single-family rental market affected housing stability in Atlanta.
Renters in many metro areas, especially those with modest incomes, increasingly struggle to find affordable housing. The authors investigate the landscape of low-cost rented housing units and spatial patterns of change in eight cities in the Southeast.
Heirs' properties are parcels of land inherited by descendants of a previous owner who did not leave a will. This type of ownership is widespread in the Southeast and disproportionately found in low-income ethnic and racial minority families. Partners Update examines the social and economic issues associated with these properties.
The U.S. housing market has been on the mend since the recession ended, but increasing property values are leaving many families of modest means priced out of the market. This Partners Update article examines inclusionary housing policies as one possible solution.
Despite limited resources, UNITY of Greater New Orleans, a coalition of 60-plus local agencies, permanently housed over 500 chronically homeless people last year. Learn how the coalition achieved that success in a Partners Update article highlighting best practices in the Southeast.
Rural communities have historically had high unemployment and poverty rates as well as substandard housing stock. Joseph Belden of the nonprofit Housing Assistance Council discusses housing challenges in rural areas and strategies to improve those conditions.
An Atlanta Fed research paper suggests that prevailing optimism during the housing boom and the resulting decisions made by homeowners and financial institutions were primary causes of the foreclosure crisis. The paper examines what led to some of these decisions and how policymakers might respond in the future.
In the Southeast, overall mortgage delinquency and foreclosure trends in the fourth quarter of 2011 improved year over year. However, only Georgia and Tennessee improved on a state level in every category, and Mississippi continues to struggle with mortgage delinquencies.
In the Southeast, seriously delinquent first mortgages are down slightly in the third quarter compared with the third quarter of 2010. However, foreclosure rates have seen a modest increase in that same time period, reflecting the national trend.
Over 10.7 million households owe more than their homes are worth as of the third quarter of 2011, according to Chief Economist Mark Fleming of CoreLogic. Negative equity can hinder homeowners' ability to sell their homes or, in some cases, to qualify for loan modification and refinancing programs.
Governor Elizabeth Duke discussed "lessons learned" from the financial crisis during a Federal Reserve Board forum on September 1. Duke also identified obstacles to the housing market recovery and explored possible solutions. One option, land banking, has a good track record in the Southeast.
The most recent Mortgage Delinquency and Foreclosure Trends from the Atlanta Fed shows a slight decrease in the percentage of mortgages in foreclosure in the Southeast from December 2010 to June 2011. But there's an asterisk beside that news.
Small improvements in the "sustainability" of buildings can have large effects on greenhouse gas emissions and on energy efficiency in the economy. In today's commercial real estate market, does it also make business sense to invest in the energy efficiency or "sustainability" of buildings?
Real-estate-owned (REO) properties are usually vacant and, particularly when geographically concentrated, can have destabilizing effects on neighborhoods and communities. The author studies intrametro REO distributions across different metro areas during the mortgage crisis.
What was the extent to which real-estate-owned (REO) properties accumulated in different housing markets during the mortgage crisis? The author examines characteristics of the inventory of REO properties in U.S. metro areas from 2006 to 2008.
Mortgage regulation and foreclosure laws are generally under federal and state governance, but local governments and organizations responded to rising foreclosures in various ways. The author presents a range of responses to the foreclosure crisis that local organizations have used.