My first op-ed with and so many collaborators
Opinion: Without real solutions, renters will continue to be worse off | CNN Business -
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Jung Hyun Choi
@Jungs_Home
Research Associate of the Housing Finance Policy Center
Joined February 2019
Jung Hyun Choi’s Tweets
Urban's Housing Finance Policy Center is seeking a policy analyst who will manage external relationships to provide research and evidence that answers critical questions, and empowers external stakeholders to make better policy and practice decisions. bit.ly/3MMgKX2
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We’re recruiting a policy analyst who will manage relationships, conduct and synthesize research, draft reports, and track program deliverables. bit.ly/3MMgKX2
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Our new research finds that children of parents without a high school diploma are more likely to be enrolled in school in high college share MSAs. But it is getting more and more unaffordable for those families to live in high skilled cities
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Our new research finds that low income renters are more likely be behind multiple rent payments, and were encouraged by landlords to vacate property.
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Emergency rental assistance isn't reaching tenants with the lowest incomes fast enough, write @pangdaniel_, @Jungs_Home, & @MortgageLaurie: urbn.is/3KsCmXA
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Our new research finds that landlords have used multiple methods to vacate tenants, have become more stringent in tenant screening, and are likely to increase rents
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The real rental housing crisis is on the horizon, write @Jungs_Home, @MortgageLaurie, & @pangdaniel_: urbn.is/3I2m32c
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Our new research points out large gaps in the rental payment and eviction data and highlights what existing data tell us about the impact of the COVID-19 pandemic on the rental market.
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What needs to be considered when designing and implementing a special purpose credit program. Our first blog on place-based approach
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From @Jungs_Home & team: How place-based special purpose credit programs can reduce the racial homeownership gap urbn.is/3APIFRj
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From & @pjmatting: What different denial rates can tell us about racial disparities in the mortgage market urbn.is/3rjze8m
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Disaggregating mortgage denial rates by types of loans reveals: (1) Black households have the highest denial rate in all loans, but (2) there are greater racial disparities in the denial rates for home improvement loans and HELOCs. 1st blog with @pjmatting
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While the passage of SB9 in CA is a major step forward in the potential to increase low-density infill housing, our new blog () suggests that unless we increase the financing options we are not likely to see a major increase in housing supply.
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Did you know that among AAPI households, Koreans have the lowest homeownership rate (51 percent) and Vietnamese have the highest (67 percent)? and I have examined several reasons why.
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There are several different numbers out there regarding racial homeownership. Here is a blog that compares the three most frequently used datasets and discusses their pros and cons.
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very excited our tool is finally live! you can input your city and check how housing wealth is distributed by race and ethnicity, compare to other cities, and view underlying homeownership rates and home values
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Explore: Is housing wealth equitable in your city? urbn.is/3BZIXnH
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Our new research finds that seniors are more likely to be denied forward home equity extraction products than younger applicants, primarily driven by high DTIs. The debt load carried by older homeowners has increased substantially over the last 20 years.
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More shockingly, in this analysis we find that this Asian-white denial gap persists across almost all major metropolitan areas with large number of Asian mortgage borrowers.
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Asian mortgage applicants experience higher denial rates than white applicants, despite having higher credit scores and higher incomes. @zhu_linna, Jun Zhu, and I examine. urbn.is/3CCxHP8
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Our new blog finds that tenant-landlord relationship is critical in applying for ERA.
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From @Jungs_Home, @MortgageLaurie, & @pangdaniel_: As renter protections end, emergency rental assistance is critical. Why haven’t more landlords and tenants applied for it? urbn.is/2ZDQE5x
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Reducing barriers to sustainable housing equity extraction can help ensure that all older homeowners have equal opportunity to access the wealth stored in their homes, write & : urbn.is/3vd7xjj
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From Liam Reynolds, Vanessa Perry, & : Closing the homeownership gap will require rooting systemic racism out of mortgage underwriting urbn.is/3DtYNrY
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.: "Over the long run we see that in most of the markets in the US, if you are a homeowner, you're likely to have greater wealth-building opportunities." (via )
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We’ve created a dataset of homeowners’ demographic and income characteristics to assess foreclosure risk in counties across the country. With these data, policymakers can better target Homeowner Assistance Fund dollars to the homeowners most in need. urbn.is/3uuCqiM
GIF
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We’re tracking monthly rent payments in units owned by independent mom-and-pop landlords since January 2020 to see how the #pandemic and ongoing recovery efforts have affected renters and owners of these properties.
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Urban, in collaboration with , created a new feature that tracks rental payments to mom-and-pop landlords over time nationally and in selected states and metropolitan areas.
Here’s why.
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We have released a rental payment tracker for units owned by Mom and Pop landlords. You can access national data and data for several states and MSAs. Data shows that renters in smaller units are struggling to pay their rent on time, especially those living in lower price units.
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From @Jungs_Home, @MortgageLaurie, & @pangdaniel_: Renters living in units owned by mom-and-pop landlords are struggling to pay rent more than those in large multifamily buildings urbn.is/3k9gvdq
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Our new report hightlights accomplishments women made in the housing market. However, the share of single mom households have also grown and only a quarter of them are currently homeowners. W/ & Jun Zhu
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Over the past 30 years, women have made tremendous gains in closing both the income and the education gaps between them and men, and growth in homeownership by female-headed households has become an important manifestation of these trends. bit.ly/genderHO
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Our new blog finds that almost 30 percent of mom-and-pop landlords deferred maintenance amidst the pandemic, mostly because of missed rental incomes.
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Calculations by @MortgageLaurie, @Jungs_Home, & @pangdaniel_ indicate that the rental assistance distributed from Jan.-June averages $4,738 per household-- which could prove vital funding for much-needed preservation of homes & properties: urbn.is/3y0nNEF
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Only 11 percent of tenants, and 5 percent of mom-&-pop landlords have applied to federal rental assistance. Many still do not know, and even those who are aware reported that there are many barriers
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With just a month left of the eviction moratorium, many mom-&-pop landlords & tenants are still unaware of federal rental assistance, find @Jungs_Home, @pangdaniel_, & @MortgageLaurie: urbn.is/3hnhpAw
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In this analysis, we highlight three characteristics about Los Angeles’s low-density infill housing stock to shed light on how low-density infill housing could mitigate the housing supply shortage.
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Although many Asian households have gradually settled down in the US by obtaining homeownership, there are still structural barriers to overcome, and the recent rise in anti-Asian violence is threatening our ability to feel that we belong here
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.@Jungs_Home & @pangdaniel_ explore the progress made by-- & the ongoing challenges faced by-- AAPI communities in the housing market: urbn.is/3zxQOc1
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Myth #2: Low-density infill housing leads to higher rents and gentrification. (via & team) urbn.is/3tUIlfc
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Defining "first-gen" homeowners will affect how down payment assistance will be distributed. Our new blog compares multiple definitions and discusses which can enhance racial equity.
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From @Jungs_Home & Janneke Ratcliffe: "Making it easier for a new generation to establish homeownership... could help millions of people with limited wealth achieve greater financial stability—for themselves & for their children." urbn.is/31WfMlP
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Our new research found that voucher holders owe less back rent and mom-and-pop landlords that accepted vouchers largely had a positive experience
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From @Jungs_Home & @MortgageLaurie: How housing vouchers have helped tenants and landlords weather the pandemic urbn.is/3f9qi18
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When doing this research, I was surprised and proud to see how women have done in the housing market over the past thirty years. #WomensHistoryMonth
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More women have become homeowners & heads of household, find @MortgageLaurie, @Jungs_Home, & Jun Zhu. Could the pandemic undo that progress? urbn.is/30M3tb9
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With & Kate Reynolds: Renters and owners of small rental buildings are struggling during the pandemic— existing federal and local policies could be modified and scaled to meet the challenge of preserving this important rental housing stock
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From & : How much do landlords & tenants know about rental assistance & eviction moratorium policies? urbn.is/3lb0ClP
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Most tenants (especially those who are struggling) are unaware of government rental assistance or the extension of the eviction moratorium. New research with &
urban.org/urban-wire/lan
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Estimated back rent in January 2021 ranges from $8.4 million to $52.6 million. Kate and I explored why they are so different.
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There is no comprehensive way to track rental payments. Estimates of back rent owed by early 2021 range from $8.4 billion to $52.6 billion, find @MortgageLaurie, Kate Reynolds, & @Jungs_Home. urbn.is/3bDJ11p
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If you want to understand all the COVID related housing data, and I made this list just for you :)
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From @pangdaniel_ & @Jungs_Home: More housing data has been released during the pandemic. Here’s how policymakers can best use it: urbn.is/3aM9Ykb
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We're looking for a Senior Communications Manager who can dig deep into housing finance data using a racial equity lens, writes well, is strong on quantitative research, social & traditional media, & is creative & resourceful. Email Spardo@urban.org if you are or know such a gem!
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