Economy

Affordable Housing Spirals Down

NEW JOURNAL AND GUIDE — A recent study by the Urban Institute reports that in communities across the nation home prices and rents are exceeding the reach of an increasing number of households.

Published

4 years ago

April 26, 2019

Web Staff

By Christopher G. Cox

A recent study by the Urban Institute reports that in communities across the nation home prices and rents are exceeding the reach of an increasing number of households.

“For every 100 extremely low-income households, there are only 29 adequate, affordable, and available rental units. That means two parents who both work minimum-wage jobs might wait years to find a safe, affordable place to live with their two kids,” the report states.

According to Michael Washburn, president at Exit Realty of the Carolinas, based in Charleston, S.C, there are a number of troubling factors that contribute to this problem.

“Rules and regulations that govern where and how housing developments can be built,” Washburn said, “vary widely from one municipality to another. Government and the private sector have to come together to streamline the process of building homes and apartments,” he adds.

One possible solution to dealing with this problem, says Washburn, is offering developers property tax incentives that make it possible to reduce the cost of land acquisition. Another more long-term answer is expanding public transportation. Modern light rail systems enable residents to have a reliable, economical commute from areas where housing is more affordable to areas where their jobs might be located.

“It doesn’t help much to have an affordable rent,” Washburn said, “if you have to buy a car and pay all the costs associated with buying gas, maintenance and insurance.”

This growing lack of affordable housing is particularly acute in Charlotte, NC, said LaWana Mayfield, who represents District 3 on Charlotte’s City Council, because of rapid population growth fueled largely by individuals who have relocated from high-cost-of-living cities hoping to find a more affordable lifestyle.

Mayfield also notes that hosting the national nominating conventions of the nation’s two major political parties puts a city in the national and international spotlight, spurring massive growth and sudden attention that can be disruptive. Charlotte hosted the Democratic National Convention in 2012 and has been selected as the site for the Republican National Convention in 2020.

Other important factors contributing to the lack of affordable housing, said Mayfield, are the expanding wage gap between corporate executives and their employees and the ongoing assault on labor unions, which for decades helped to insure wage growth and better working conditions for their members.

Despite these external historical factors, Mayfield strongly believes there is an important role for personable responsibility when weighing the many elements that go into purchasing a home.

“Home buyers need to take the time to do the research on an area where they are considering buying and understand the current market trends,” she said. “We are bombarded in the media with the idea that we should spend money, but it’s important to understand the long-term impact of your investment for both your family and your community.”

Mayfield emphasizes that just because a buyer qualifies for a mortgage at a certain level, does not mean that obtaining that budget-stretching mortgage is the best decision in the long run. “Just because you can pay it,” she adds, “does not mean you should.

“For example,” she continues, “suppose a couple qualifies for a $500,000 mortgage. Rather than buying a home for that amount, they might do better to buy a house that costs $150,000 and spend $50,000 fixing it up. That would give them more financial flexibility to consider other investments or to cope with an unanticipated event such as the loss of a job.”

This article originally appeared in the New Journal and Guide.

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Bay Area

Richmond Hosting No-Cost Home Solar Program Workshop

The Richmond City Manager’s Office Economic Development Department in partnership with GRID Alternatives will host their annual workshop regarding the no-cost solar program for Richmond and North Richmond residents on July 19 at 6:30 p.m. at the 440 Building – Multi-Use Conference Room at 440 Civic Center Plaza Richmond, CA 94804.

Published

2 months ago

July 19, 2023

Oakland Post

Photo courtesy of GRID Alternatives

By The Richmond Standard

The workshop will be held in person, with staff present to go over program eligibility, the program process, and answer any questions. Registration for the program can be done at https://tinyurl.com/NoCostSolarWorkshop.

If you are a Richmond resident and are interested in no-cost solar, reach out to GRID Alternatives via phone 510-731-1310 or email InfoBA@GridAlternatives.org to determine eligibility.

California Black Media

California Black Media Political Round-Up

The California Black Women’s Collective Empowerment Institute (CABWCEI) is launching a statewide effort called “Conversations for Black Women — Building an Economic Action Plan Tour” in collaboration with the Bank of Montreal (BMO) lasting from the end of July until mid-November.

Published

2 months ago

July 19, 2023

Oakland Post

State Senate candidate Sandré Swanson and California Attorney General Rob Bonta.

By Joe W. Bowers Jr.,
Edward Henderson
California Black Media

Black Women’s Group Tour on Economic Empowerment to Make Stop in Oakland

CABWCEI is a coalition of Black women whose goal is to amplify the voices of Black women everywhere and leverage their political power and in turn alleviate the political, economic, and safety challenges that they face.

The objective of the tour, organizers say, is to develop an economic action plan that helps Black women build wealth and overcome barriers through transformative policies and practices.

CABWCEI does this by ensuring that Black women are represented at every level of leadership particularly in the public sector, and by identifying, recruiting, and creating accessible resources.

This year’s tour will stop in six parts of the state, San Diego (July 29), Solano (Aug. 26), Sacramento (Sept. 23), Oakland (Oct. 14), Fresno (Oct.21), and the Inland Empire (Nov. 18) and offer a variety of opportunities, including mentorship programs, homeownership counseling, apprenticeships, job coaching, financial planning, and entrepreneurship support.

Tour partners include California Black Media and Black Women Organized for Political Action (BWOPA).

“BWOPA is delighted to partner in this much-needed enterprise,” said founding member Gay Plair Cobb. “Wealth building through entrepreneurship and related activities is essential to the economic advancement of Black women and to overcoming historic disadvantages we’ve faced as a result of systemic racism. We look forward to a much brighter economic future thanks to events such as these.”

Brenda Hudson, finance manager at the Oakland Post, thinks that tour will help Black women in Oakland.

“We have to develop a support system and have less competitiveness, so that we can build up generational wealth.” She also spoke about her own personal experience, explaining that her daughter lived with her for years, saving money, and now owns a four-bedroom house.

“That kind of community support is what is needed in order to rise up together. CABWCEI is trying to do that and more with their upcoming tour,” Hudson said.

Cathy Adams, president of the Oakland African American Chamber of Commerce, said that this tour and its objectives are much needed in the Black community and especially for Black women.

Investors and finance managers reach out to her frequently to talk about trust issues Black people have in seeking or receiving advice about money.

“This is a great opportunity for our women to learn how to maximum our return on our investment,” she said, especially as so many people are dealing with financial fallout from the pandemic.

The strategies that could be learned on the tour “can change the narrative … change the landscape on how we deal with money as a rule … so that all of us can be on top of the money train,” Adams said.

It’s a great time to get support without being what she termed “money-shamed” for not adequately investing or preparing for retirement or failing to read fine print.

“You can show up and invest — in yourself or with each other,” she said, “working with people you trust.”

— Post Staffer Daisha Williams contributed to this story.

Gov. Newsom Updates State’s Opioid Plan to Include New Deadly Drug “Tranq”

Gov. Gavin Newsom has updated his strategy to combat opioid abuse in California by introducing measures to address a new deadly drug xylazine, also known as ‘tranq’ on the streets.

This animal sedative is increasingly being mixed with fentanyl, making it even more deadly. According to data from the Centers for Disease Control and Prevention (CDC), the percentage of fatal opioid overdoses involving ‘tranq’ increased by 276%, from 2.9% to 10.9% between January 2019 through June 2022.

Newsom’s ‘Master Plan for Tackling the Fentanyl and Opioid Crisis’ focuses on holding the opioid pharmaceutical industry accountable, cracking down on drug trafficking and raising awareness about the dangers of opioids. The plan includes addressing emerging threats like ‘tranq.’

“California has an all-hands-on-deck strategy for tackling the fentanyl and opioid crisis impacting every community across our state,” said Newsom in a statement. “Education and outreach are critical tools in our arsenal to prevent tragedy, to connect people with treatment, and to fight the life-threatening stigma that stops too many people from getting help.”

California has allocated $30 million to fund the production of naloxone, the anti-overdose drug. Newsom has also increased anti-drug-trafficking operations, especially at the San Ysidro border crossing in San Diego, where a significant amount of fentanyl enters into the state.

AG Bonta Releases Reports on Crime, Juvenile Justice, Guns, Homicides and Use of Force

California Attorney General Rob Bonta announced the release of the annual Homicide in California, Crime in California, Use of Force Incident Reporting, Juvenile Justice in California, and Crime Guns in California statistical reports.

The reports contain statistics for 2022 as submitted by California law enforcement agencies and other criminal justice organizations.

Findings indicated 612 civilians were involved in incidents that involved the discharge of a firearm or use of force resulting in serious bodily injury or death.

Of those civilians: 48.4% were Hispanic. 25.3% were White, and a disproportionate 19.3% were Black. Black Californians account for about 5.72% of the state’s population.

In 2022, there were 2,206 homicides reported in the state, a decrease of 6.6% from 2361 reported in 2021. The rate of violent crime per 100,000 people increased by 6.1% from 466.2 in 2021 to 494.6 in 2022. The homicide arrest rate decreased by 5.9% in 2022 compared to 2021 and the violent offense arrest rate increased by 3.4% compared to 2021.

“Having access to good data is a cornerstone of responsible public policy. The data released today is essential for understanding, preventing, and combating crime,” said Bonta. “In 2022, California made significant progress toward reducing its homicide rates, but more remains to be done.

“While crime rates remain significantly below their historical highs, property and violent crimes continue to have devastating consequences for communities across the state.”

Bay Area

President Joe Biden Concludes Bay Area Visit

President Joe Biden has concluded his three-day trip to the Bay Area after departing Wednesday morning from San Francisco International Airport on Air Force One. On Monday, Biden visited Palo Alto to announce a $600 million investment toward climate adaptation strategies across the country.

Published

3 months ago

June 25, 2023

Oakland Post

On Tuesday, Biden discussed the future of artificial intelligence technology with Newsom and a collective of tech leaders at the Fairmont San Francisco hotel. The discussion comes as AI tools like ChatGPT emerge into the public sector. The technology is both promising and risky -- Biden noted that while it may boost productivity, AI can also make spotting misinformation harder and put human jobs at risk.

By Olivia Wynkoop
Bay City News

President Joe Biden has concluded his three-day trip to the Bay Area after departing Wednesday morning from San Francisco International Airport on Air Force One.

On Monday, Biden visited Palo Alto to announce a $600 million investment toward climate adaptation strategies across the country.

He announced the investment at Lucy Evans Baylands Nature Interpretive Center and Preserve, a marshland estimated to protect nearly 1,600 homes from flooding and sea level rise. Biden noted the preserve as a “success story” in the efforts to better prepare for climate-induced natural disasters and mitigate carbon pollution.

He also announced an additional $67 million in federal funds for California to build power lines. Gov. Gavin Newsom, who also attended the announcement, said the assistance will support the state’s push for 100 percent clean energy by 2045.

A White House representative said Biden then went on to attend two re-election campaign fundraising events, one hosted in Los Gatos and another hosted in Atherton.

On Tuesday, Biden discussed the future of artificial intelligence technology with Newsom and a collective of tech leaders at the Fairmont San Francisco hotel.

The discussion comes as AI tools like ChatGPT emerge into the public sector. The technology is both promising and risky — Biden noted that while it may boost productivity, AI can also make spotting misinformation harder and put human jobs at risk.

The president said he is committed to implementing safeguards to ensure there are no threats to national security or the economy before these tools become public.

The discussion included input from Dr. Arati Prabhakar, Director of the White House Office of Science and Technology Policy, Tristan Harris of the Center for Human Technology and Jim Steyer of Common Sense Media, among other Silicon Valley stakeholders.

Later Tuesday, Biden attended two more fundraisers in Marin County and San Francisco before heading back Wednesday morning to Washington, D.C., according to White House officials.

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