Tuesday, April 24, 2012

Housing News Digest, April 24

In Colorado, Grand Junction Fares Better than Most for Affordable Housing GRAND JUNCTION, Colo.- New census figures reveal low-income households outnumber affordable rental units in Colorado. However, Grand Junction fares better than most cities.

 Report: Low-income Coloradans Priced Out of Rentals People with the lowest incomes in Colorado are being priced out of rental properties, according to a report issued Monday by the Colorado Division of Housing. "Rental housing in general since 2009 has become more scarce for many households as vacancies fall and rents rise," said Ryan McMaken, a spokesman for the Division of Housing. The report said that among households with the lowest incomes, there are twice as many households as there are affordable rental units in Colorado.

Report: Fort Collins-Loveland residents spend more of incomes on housing "It seems like the grocery stores are getting more expensive, rents are going up ... it's getting to be a whirlwind and a downward spiral." What the numbers say Colorado officials say census data collected from 2006 to 2010 show the number of low-income households outnumbered the affordable rental units in the state.

  Boulder County toughest rental market BOULDER - Boulder County is the toughest market in Colorado for low-income families in need of affordable rental units, and it has the highest percentage of "rent-burdened" households in the state, according to a report released Monday by the Colorado Division of Housing. The study, which relies on U.S. Census Bureau data collected from 2006 to 2010, is a comprehensive overview of the availability and affordability of rental units in Colorado. The division conducts the survey in order to determine the state of the market and where it should allocate its resources, spokesman Ryan McMaken said.

 Real estate development: a mixed bag A recent report from Beacon Hill Institute ranks Colorado as the third-most economically competitive state. We continue to see decreasing unemployment, positive job growth, and a new sense of optimism from business owners and consumers – all pointing to an improving regional economy. The Governor’s Office of State Planning and Budgeting in March announced that the state general fund revenue is projected to be $164.5 million higher in the next fiscal year than was originally forecasted, due to continued improvement in the job market and increased confidence among households and businesses.

 Maybe no housing rebound for a generation: Shiller The Housing market is likely to remain weak and may take a generation or more to rebound, Yale economics professor Robert Shiller told Reuters Insider on Tuesday. Shiller, the co-creator of the Standard & Poor's/Case-Shiller home price index, said a weak labor market, high gas prices and a general sense of unease among consumers was outweighing low mortgage rates and would likely keep a lid on prices for the foreseeable future