News & Press: The Road Home Newsletter

We See No End to the Housing Inventory Crisis!

Thursday, May 17, 2018  
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May 17, 2018

We See No End to the Housing Inventory Crisis!

Now that a quarter of 2018 has passed, the data show us that there is no end in sight to the housing inventory crisis.  We have now had 34 months of declining single family residential units available for sale; no dent in the 4.9 million unit shortfall that the National Association of Home Builders (NAHB) estimates accumulated over the past seven years; no improvement in the average $84,000 cost per new housing unit for regulatory compliance (also estimated by the NAHB); and an astonishing average cost of producing a new mortgage at $8,000, no doubt increasing the cost to borrowers.

Increasing sales prices combined with rising mortgage interest rates are creating new pressures on affordability while rising rents are making it even more difficult to accumulate down payment funds.

Why is homeownership important to all of us?

Countless studies have shown that our communities are stronger when there is a strong homeowner representation.  The health of residents is better; schools are better; and, financially, the net worth of homeowners has ranged at a whopping 36 to 46 times that of non-owners (over the past ten years)!

What is to be done?

At the local level, speak out about the need for affordable housing to both your civic leaders and your financial institutions.  Home builders need favorable zoning requirements and access to capital to build affordable homes. At the state and national levels, be sure that your representatives have affordable housing on the list for legislative changes and for funding appropriations – both those in office today and those who may be facing election in November.  Find your national representatives here Find Your Congressional Representative .

Your AHA is committed to protect and promote sustainable homeownership for all segments of America.  We will continue to advocate for the acceptance of alternative credit scoring models that can remove one barrier for millions of potential new homeowners.  And if you are preparing to join the ranks of new homeowners, see the Tips for homebuyers we have prepared at AHA Tips for Homebuyers; or see all of the AHA Homeowner Tips on many different topics of interest to prospective and current homeowners.

Is Your Garden and Yard Ready for the Summer?

A beautiful summer outdoor space for your home starts with basic gardening and lawn care techniques you can implement now.  Here are some guidelines on how to assure that your garden and yard thrive for months to come.

  • Gransden, Hannah. “Getting Your Garden Ready for Summer”.  Article here
  • Hancock, Justin W.  “Summer Garden Checklist”.  Article here
  • Vandervort, Don.  “Six Ways to Get Your Yard Ready for Summer.”  Article here

 

Member Rewards Update

With better weather, don’t miss the latest offers for outdoor furniture, grills and pool accessories.  Father’s Day will be here soon!  Just go to AHA Member Rewards to find what you need.

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