Kevin Carney
•Télécharger en tant que PPTX, PDF•
0 j'aime•449 vues
Bring Workers Home Regional Forum on Workforce Housing--Honolulu, HI--October 12, 2010
Recommandé
Contenu connexe
Tendances
Tendances (15)
Similaire à Kevin Carney
Similaire à Kevin Carney (20)
Plus de National Housing Conference & the Center for Housing Policy
Plus de National Housing Conference & the Center for Housing Policy (20)
Dernier
Dernier (20)
Kevin Carney
- 1. The Growing Cost of Place Why Workforce Housing Matters in Hawai`i Presented by Kevin Carney, President of Housing Hawai`i 2010 Regional Forum on Workforce Housing Hosted by the National Association of Realtors and the National Housing Conference 10/12/2010
- 2. Housing Hawai`i 501(C)3 nonprofit Formed in 2006 10/12/2010
- 3. Goals Preserve & Increase the number of: 1. Affordable Homes (Single Family/Condo) 2. Affordable Rental Homes 10/12/2010
- 4. 10/12/2010 “Affordable Housing” A Definition: Housing is affordable when you pay no more than 30% of your income for housing, including utilities!
- 5. 10/12/2010 Affordable Housing vs Workforce Housing – Is There a Difference? Area Median Income: Honolulu – Family of Four 100% 140% 30% 60% 80% 120% $81,700 Rental Ownership
- 6. 10/12/2010 Affordable Homeownership 2010 AMI Family of Four -- $81,700 “Affordable Housing” for this Family: $2,042 a month Median Home Sales Price: $600,000 Income Requirement: $145,000 AMI Requirement: 180% AMI 100% AMI Family – Can Qualify for $310,500 Loan
- 7. 2010 Honolulu Incomes and Ability to Buy $600,000 Median Priced Home Source: National Housing Conference – Paycheck to Paycheck
- 8. 10/12/2010 Affordable Rental Homes 2010 Fair Market Rent - 2 Bedroom: $1,610 Income Requirement: $64,396 or $31/hr Hawai’i Renters Average Wage: $12.89/hr To “Afford” This Apartment: 96 hours a week! Minimum Wage: $7.25/hr To “Afford” This Apartment: 171 hours a week! Affordable Rent for Minimum Wage Earner: $377
- 9. 2010 Honolulu Hourly Wages vs. Wage to Afford 2 Bedroom Apartment $30.96 $27.67 $17.41 Source: National Housing Conference – Paycheck to Paycheck
- 10. 10/12/2010 Hawaii’s Housing Cost Challenges: World Marketplace Lack of Infrastructure Limited entitled land High cost of landHigh cost of construction and materialsLimited fundingPolitical will
- 11. State Legislature Acknowledges Housing Crisis Shortfall: 22,000 Affordable Units for Families Earning Less than 80% AMI Reach: Housing Crisis Extends to Moderate-Income Families -- 95% of AMI Barriers: High Cost of Land and the Lack of Infrastructure 10/12/2010
- 12. 10/12/2010 Housing Hawai`i Efforts: Advocacy: Development of New Affordable Homes for Purchase and Rent Preservation of Existing Affordable Rental Homes Track Proposed Legislation Keep the Conversation Alive! Please join with us in promoting the need for affordable housing in Hawai`i! www.housinghawaii.org
Notes de l'éditeur
- History of Founding: Formed after a Nov 2005 Conference on the: Cost of Housing in High Cost Areas sponsored by HUD Two conferences in 2007 Conference planned for Feb/Mar 2011 on: Vision of Housing in 2020 Commitments from Community Enterprise Foundation and Michaels Development Awaiting keynote speaker confirmation from HUD DeptySecty Ron Sims
- Area Median Income and the ability (lack thereof) to buy:2010 AMI for a family of 4 = $81,700.If 30% spent on shelter = $24,510 or $2,042/mo. If median sales price is $600,000 - requires income of $145,000 assuming 10% down at 4.5% for 30 yrs. Equals about 180% of the AMI (family of four).At $81,700 can qualify for loan of $310,500 assuming 4.5% for 30yrs and taxes and insurance of $4,000/yr. (Assumes no debt and no down payment)Results:At $81,700 may qualify to purchase a condo or home in some suburban areas.
- Remind the audience here of the cost of the apartment (they can’t see last slide!)2010 Hawaii 2 bdm apt FMR = $1,610
- Hawaii Challenges:World Marketplace – everyone wants to live here.Lack of Infrastructure – roads, water, sewer – particularly for urban redevelopment. (Is TOD a savior?)Limited entitled land.High cost of land.High cost of construction and materials.Limited Funding.No political will.
- In 2006 the Joint Legislative Housing and Homeless Task Force in its report to the Hawaii State Legislature had this to say: “Hawaii’s affordable housing problems have reached crisis proportions and will worsen unless all levels of government and the private sector work in partnership to implement bold and effective measures to address the housing needs of our residents.” Short 22,000 housing units for working families earning less than 80% ($76,000 for a family of 4) of the AMI.Housing Crisis extends to moderate-income families (95% of AMI) for first time in Hawaii’s history.Significant barriers to development of homes for those at 95% and below are the high cost of land and the lack of infrastructure.Current ChallengesThe economy: State and Counties struggling to balance budgets = limited or no funds available for infrastructure improvements that enable the production of Housing.The economy: Balanced budget = limited support of housing subsidy programs.Housing Hawaii Funding: Need more members and grant opportunities to fund staff to expand outreach.
- www.housinghawaii.orgPlease join with us in promoting the need for affordable housing in Hawaii!