NHPF Affordable Housing & Social Mobility Survey Compendium

Nearly one-quarter of boomers worry about affording rent/mortgage payments,but geography plays role Although 24% of those queried say they‘re most anxious about being able to afford their rent or mortgage, there are geographical differences. Just under 20% of those in the midwest worry about affording rent or mortgage payments while 38% of those in the south rank this their biggest worry. According to the survey, housing-related anxiety is most acutely felt in the south, followed by the northeast and midwest. Boomers in the west experience housing-related anxiety least often. “Though housing insecurity is a national problem, these geographic differences demonstrate the need to tailor housing options to the unique needs of each region,” said Stefano Rumi, an advisor to NHPF and a senior fellow at the Batten Center for Social Policy of the University of Virginia specializing in the housing needs of America, “The winning solutions will incorporate private and public partnerships to finance affordable housing. This means a ‘YIMBY’ (yes in my backyard) attitude on the part of local communities and elected officials.” Election impact on housing reflects national mood Housing concerns brought on by the new administration mirror America’s divided population. Nearly half (49.96%) report little or no anxiety, yet the other half (50.04%) have substantial or great anxiety. Of those who experience greater anxiety about housing due to the new administration, the highest percentage, (30%) worry about a lack of sufficient retirement funds, followed closely (27%) by those who fret about tax increases. Nearly 50% of those queried believe their housing related anxiety could be alleviated if the new administration assured stable property and other taxes, meaning a guarantee of no substantial tax increases. Those seeking assurances about job security and legislation to protect from rent/mortgage increases followed at 24% and 23% respectively. Interestingly, nearly 14% of respondents indicate that construction of more affordable housing would help alleviate their housing-related anxiety. To this, NHPF’s Burns adds, “Government measures, particularly the LIHTC (Low Income Housing Tax Credit) which gives incentives to private equity for the development of affordable housing, will continue to be vital to organizations such as ours to provide the country with stable, long-term affordable housing options.”

THE NHP FOUNDATION: THOUGHT LEADERSHIP

15

Powered by