In this week’s news round-up, we find unintended consequences, and a curious solution to a local issue.
Home sales are down around the country, and many homeowners are choosing to rent out their properties as an alternative to letting them languish on the market. In Connecticut, rental demand is increasing, and with a housing wage of $23.37, lower income renters still find themselves scrambling for a decent place to live. Are there implications here for federal REO conversion proposals as well?
Commissioners in Kitsap County, Washington (home to Naval Base Kitsap) voted unanimously to put a levy on the November ballot that would reduce homelessness for veterans and others. One columnist argues against this levy and offers an alternative approach: county residents could instead make voluntary donations to the National Low Income Housing Coalition, while the government should focus on job creation. As much as we appreciate and rely on donations, when 23% of homeless people are also veterans, we think a community investment in housing for veterans is a good idea. After all, building housing also creates jobs.