Published Date 1/9/2024
. What good does it do to live in an upscale area when the people who serve you can’t afford to live anywhere near you? Do you raise the salaries of teachers, police, domestics, etc. just to make up for their commutes and survival, or do you provide a way to “help them help you?” According to HousingWire’s Will Robinson, a secondary school teacher in Colorado makes on average just under $63,000, according to the Bureau of Labor Statistics. “If a Colorado teacher making the average salary had $20,000 to put towards a down payment and were willing to spend 30% of their pre-tax salary on their mortgage payment, she could afford a house that costs about $225,000,” he says. The only problem? The typical Colorado home there runs more than $528,000. Together with homebuilders and landlords, districts across the country concluding Colorado and Austin TX, are coming up with a solution: workforce housing. “With forecasters not expecting home prices to crash anytime soon and essential jobs across the country needing to be filled, will this become a model for the future? Scenes of Steinbeck’s Grapes of Wrath come to mind, but on a much more sophisticated scale. Aspen, CO is famous for ski slopes and luxury housing. In 2022, the median home was worth about $843,000, and the median renter paid $1,738 per month, according to American Community Survey five-year estimates. And as in elsewhere in the country, affordability worsened during the pandemic. Aspen had already provided some housing for teachers for decades. It doubled down on this effort in the last two years, however, spending $40.8 million over that period to acquire 52 units and renovate several of its 50 existing units, according to Robinson. Reach out for more HousingWire, TBWSAll information furnished has been forwarded to you and is provided by thetbwsgroup only for informational purposes. Forecasting shall be considered as events which may be expected but not guaranteed. Neither the forwarding party and/or company nor thetbwsgroup assume any responsibility to any person who relies on information or forecasting contained in this report and disclaims all liability in respect to decisions or actions, or lack thereof based on any or all of the contents of this report.
Bank statement for Self Employed are our Specialty! JUMBO LOANS at Amazing rates!
NMLS: 914312
Jackie Barikhan - Summit Lending
15183 Springdale St, Huntington Beach, CA CA 92649
Company NMLS: 914312
Office: 949-855-0760
Cell: 949-600-0944
Email: jackie@mylenderjackie.com
NMLS: 914312
Cell: 949-600-0944
6/7/2024
Buying a house is the biggest expenditure any of us will ever make. The prospect... view more
6/7/2024
The reaction to this morning’s May employment report drove the 10 year note to 4... view more
6/6/2024
The May Challenger Grey Job Cuts were 63,816 which was pretty much the same pace... view more
6/5/2024
It’s coming. The kind of heat dramatized in an old episode of Twilight Zone, whe... view more
6/3/2024
Seems anyone and everyone interested in real estate is getting whiplash trying t... view more
6/3/2024
These are the three areas that have the greatest ability to impact rates this we... view more
5/31/2024
Sometimes it’s hard to believe that places as beautiful as Florida or as stately... view more
5/31/2024
Inflation in April didn’t increase or decrease; the estimates markets were expec... view more