Home > Blogs > California > Santa Clara County > San Jose > A shortage of homes loom....
481,920 views

Bay Area Homes and Real Estate.

Silicon Valley Real Estate; Santa Clara County Homes and Trends.

By Ruth & Perry Mistry | Agent in 95030

A shortage of homes loom....

The number of affordable housing units isn’t keeping pace with the number of people in need, which is leading to a rise in homelessness, a new study finds. 


Low-income households face a potential housing shortage that could lead to a large rise in homelessness, warns a new report by the Institute for Children, Poverty, and Homelessness. 

The study shows that there are 5.4 million housing units available for rent to a family of three at the federal poverty line of $18,310. However, there are more than double the number of households below the poverty line (10.9 million). 

The shortage in housing has led to a 20 percent rise in family homelessness from 2007 to 2010, according to the ICPH report, “A Home by Any Other Name: Enhancing Shelters Addresses the Gap in Low-Income Housing.”  

The ICPH blames the rising cost of rental units and a decline in the number of public housing projects for the shortage in affordable residences. 

"It is clear that the number of affordable rental units has not changed in three decades as the number of people who need affordable housing has skyrocketed," says Matthew Adams, ICPH's principal policy analyst. "This gap is unsustainable.”

Americans who earn the minimum wage cannot afford fair market value of rent for at two-bedroom apartment, according to the report. What’s more, the amount of federal dollars that is spent on housing programs for low-income households has dropped 20 percent since 1995 and is at a record low.  

Source: “Homeless Face Unprecedented, Overwhelming Housing Shortage,” Realty Times (Sept. 20, 2012)  and Realtor Magazine.



Other sites and links:

Looking for homes or investment properties go to: 
http://ruthandperry.com/

2 fine homes, check virtual tours by clicking on link below:

http://tinyurl.com/8vq5qru [Open in new window] 

http://tinyurl.com/93b8qma [Open in new window] 

Santa Clara County trends:

http://www.trulia.com/blog/perry_mistry/2012/08/santa_clara_county_update_for_trends_in_inventory_and_home_sales_price

or 

http://tinyurl.com/8o6y4ux [Open in new window] 

Homes for Sale in San Jose:
http://tinyurl.com/8dkklep [Open in new window] 

Mortgage and Loans:
http://ruthandperry.com/mortgage-loans-refinance    
 
 



Enjoy the music while you read the blog and links:



POST
 
Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer