Homeownership Rates Drop to Historic Lows; Middle Class Feels the Strain of Rising Rents The fledgling U.S. housing recovery lost momentum last year as homeownership rates continued to fall, single-family construction remained near historic lows, and existing home sales cooled, concludes The State of the Nation’s Housing report released today by the Joint Center for Housing Studies of Harvard University. In contrast, rental markets continued to grow, fueled by another year of large increases in the numbers of renter households. However, with rents rising and incomes well below pre-recession levels, the U.S. is also seeing record numbers of cost-burdened renters, including more renter households higher up the income scale. [more inside]
The New York borough that once symbolized urban decline is safer and more stable—but most Bronxites' lives are still precarious.
There are approximately 530 single resident (or room) occupancy (SRO) hotels in San Francisco. San Francisco has hundreds of SRO hotels that are home to more than 30,000 tenants or approximately 5% of the city, the majority of whom live in low-income neighborhoods such as the Tenderloin and Chinatown. As San Francisco’s cost of living continues to leap upwards and SROs get demolished or converted to condos, many housing activists worry about what will become of the vulnerable SRO population. Life has always been precarious for these residents and far from idyllic in even the best-managed buildings. Here are the stories of six people trying to survive in a city that’s increasingly out of reach. [more inside]
NEW DELUXE TRANSIENT ROOMS WITH FREE ADULT MOVIES ... that's what the three-story-tall painted sign promised. It's faded and peeling now, but the sign's still there, though the Viceroy Hotel has been closed for nearly a decade. [more inside]