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California Rep. Maxine Waters Proposes Billions to Help Low-Income Homebuyers

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Maxine Waters Proposes Billions to Help Low-Income Homebuyers ldeakins Thu, 06/22/2023 - 12:30 The new proposal aims to significantly expand funding for low-income housing California Representative Maxine Waters introduced three bills on Wednesday that would expand low-income housing and narrow the country’s racial wealth gap.

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These St. Louis Lawyers Created a Replicable Model for Neighborhood Renewal

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by using a federal tax credits program to finance affordable housing projects. Louis lawyers Donna and Howard Smith created an innovative model for neighborhood renewal using a federal tax credits program to finance for-sale affordable housing in the city’s Jeff-Vander-Lou area. Over a decade ago, St.

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These Cities Are Becoming More Affordable for Renters

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More than 40% of renters pay more than a third of their income on housing costs, meaning affordability typically affects renters more than it would homeowners, according to Smart Asset. Both Los Angeles and Washington, DC tied for number three. Between 2016 and 2019, rent as a percentage of income fell by almost 8%.

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How Employer-Assisted Housing Programs Are Paving a Path to Homeownership

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Though currently implemented mostly by large corporations, EAH programs are beneficial for all existing employees and are an attractive incentive for incoming employees as well. The program is initially available in Washington, Virginia, and Tennessee, where the online retailer has major hubs. Housing Policy + Finance.

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Buyers Turn to Cash and Higher Down Payments to Snag Homes

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NAR notes this widens the wealth and income divide among those who are financially wealthy and those yet to build up wealth. In Arizona, Georgia, New Hampshire, and Washington, there were six offers per home sold. In March, homes received an average of five offers, whereas homes only saw two offers on average in 2019 and 2020.

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Banks Step In to Shrink Black Homeownership Gap

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In Washington, DC, one firefighter and his family were able to purchase a home with the help from Chase Bank’s Chase Homebuyer Grant, according to the Washington Post. The grant is given out to those looking into purchasing a home in low- to moderate-income communities. Demographics. Financials. Demographics.

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'Grandfamily' Communities Offer Specialized Housing for Caregiving Older Adults

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The community offers affordable housing for older adults with low incomes, adoptive families, or “grandfamilies,” with a grandparent, adult family member, or friend raising a child. These communities aim to provide stable housing for older adults balancing caregiving and there are at last 10 across the country, reports the Washington Post.

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