Friday, June 17, 2011

Housing News Digest, June 17

Foreclosure rate starts to recede (Pueblo Chieftain)
Through May, foreclosure filings in Pueblo County totaled 487, down 16 percent from the same period a year ago, according to the state Division of Housing.
The easing comes fives years since the 2006 start of the local housing market crash triggered by the subprime mortgage meltdown and extended by the recession.

Low-Income Earners Struggle to Find Affordable Housing (KUNC)
Almost half of renters in Colorado are considered to be rent burdened - meaning they are spending 30% or more of their monthly income on housing. That’s across all income levels… but the burden becomes especially heavy for those who earn less than the state’s median salary of $55,735 a year.

Colorado short of affordable rental housing, says state analysis (Denver Post Print Ed.)

Boulder had the highest percentage of renters — 32 percent — paying at least half their income for housing, and 48 percent, also highest, paying at least 35 percent of their income.
The areas with the smallest rent burdens were in Grand Junction and Colorado Springs.

Coloradans who qualify for affordable housing outstrip supply (DBJ)
The report says there are 47 affordable rental units for every 100 households earning less than $15,000 per year, and 57 units for every 100 households at an income level below $10,000.
For households at the $35,000 income level, there are 109 rental units affordable to every 100 households.

Colorado housing officials say state doesn't have enough affordable rentals (Assoc Press)
DENVER (AP) — A Colorado Division of Housing report says there still aren't enough affordable rental units in the state.