"29 consecutive quarters of real rent growth" (rent growth > inflation). Um, that doesn't bode well for affordability!
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Herbert: what we need to do now is takes steps to make sure the problem isn't worse 10 years from now. It's gonna take time to whittle down the backlog of unmet demand.
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Great Recession was missed opportunity for public sector, non-profits to acquire older, lower-cost apartment buildings for long-term affordable housing. (yeah, 20/20 hindsight, plus budget constraints.)
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Herbert: having more middle-income renters facing affordability challenges helps create political pressure to address housing problems. (hopefully!) but still need more political support for subsidies to poor renters. (yes)
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Lemaile Ho: in Great Recession, we stopped building homes. But we didn't stop growing (population).
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Barranco: there's a huge opportunity for mission-driven organizations to buy existing housing for less per-unit than new construction. (yes yes yes!)
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Lemaile Ho: my dad could afford to buy a house b/c of GI Bill - a big policy response to urgent need. We need similar policy engagement now.
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@ConorDougherty : all the Democratic candidates have put out housing plans this year. [note: almost all - Biden hasn't yet]. Ho: it's awesome that these candidates feel the need to *have* housing plans. (yup!)Prikaži ovu nit -
Ho: "I'm not sure that having our whole federal housing policy built around tax credits is working."

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Schmidt: I would always advocate for additional rental subsidies (vouchers). We will always have families whose incomes don't allow them to pay market rents. [I basically want to stand up and cheer at every answer.]
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Oooh, Chris Herbert points out we need to talk about transportation together w/ housing..."we have limited land near transportation" & need to use it better.
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@Jacob_Frey : forget states, *cities* are the laboratories of democracy. [or at least the right scale labs for some types of policy.]Prikaži ovu nit -
Frey: once cities couldn't explicitly discriminate against blacks, Jews, other groups through racially restrictive covenants, they switched to implicit discrimination through zoning. [lots of evidence supports this.]
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Frey: another revolutionary thing Minneapolis is doing w/ housing policy, we're spending general tax revenues to produce very-low-income housing. [most mayors like to squeeze greedy developers instead of voters through property tax increases.]
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Frey: "I believe in beautifully diverse neighborhoods" (racially, economically, age/household type). But single-family-exclusive zoning won't let you build them. Legalizing apartments enables diverse neighborhoods.
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Herbert: how much interest is Minneapolis getting from other parts of the country in zoning reform? Frey: tons. [he's not exaggerating.]
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Frey: besides doing zoning reform, maybe there's room for financial incentives. Like making it easier to get a mortgage for a triplex. [this is super important conversation that needs to happen.]
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Herbert: the whole country will be watching Minneapolis over next 5 years. [so, no pressure!
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Frey: housing policy isn't just cities & HUD, state govts play critical role in helping cities fund below-market housing [and could help incentivize zoning reform...]
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Frey: Minneapolis offers property tax reduction to landlords who agree to keep some apartments at below-mkt rents. That helps keep some housing affordable w/out new subsidy. [city does lose revenues, so kind of subsidy]
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here ends the live-tweet + commentary...y'all should go read
@Harvard_JCHS new rental housing report. https://www.jchs.harvard.edu/americas-rental-housing-2020 …Prikaži ovu nit
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