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Affordable housing is a term used to describe dwelling units whose total housing costs are deemed "affordable" to those that have a median income. Although the term is often applied to rental housing that is within the financial means of those in the lower income ranges of a geographical area, the concept is applicable to both renters and purchasers in all income ranges. This article focuses on the affordability of owner-occupied and private rental housing as social housing is a specialised tenure. In the United States and Canada, a commonly accepted guideline for housing affordability is a housing cost that does not exceed 30% of a household's gross income. Housing costs considered in this guideline generally include taxes and insurance for owners, and usually include utility costs. When the monthly carrying costs of a home exceed 30–35% of household income, then the housing is considered unaffordable for that household. Supply and demandIn the United States, a key element in determining affordable housing is acceptable commuting time/distance. In Southern California, for example, a household's inhabitants must decide whether to pay more for housing to keep commuting time and expense low, or to accept a long and/or expensive commute in order to obtain "better" housing. From Wikipedia under the
GNU Free Documentation License What are the affordable housing qualifications? Q. What are the qualifications and is it like a program or something that a person sign up for? Is it similar to section 8? If it is stated that an apartment complex is an affordable housing complex exactly what does that mean? Thanks sooo much! Asked by RiSiE H0TT STUFF[[LMA0]] - Wed Mar 4 19:03:31 2009 - - 1 Answers - 0 Comments A. Some qualifications are: 1. Have a conforming loan backed by Fannie Mae or Freddie Mac. Approximately 60% of single-family conforming loans are backed by these Government controlled mortgage giants. These are the companies that buy the loans from your bank/servicer and then sell them to Wall Street. A conforming loan is one under $417,000 in many areas or up to $729,500 in certain high-cost areas like San Francisco, Boston or Washington, DC. Most home owners will have no idea if their loan is backed by Fannie or Freddie, but your lender or servicer does. So call them and then ask about qualifying under Obama s housing plan. 2. Your Loan to Value ratio can now be as high as 105%. Under current conditions you cannot refinance… [cont.] Answered by andys2i - Wed Mar 4 19:14:25 2009 Can I buy a house if I own an affordable housing unit in nj? Q. I bought a condo a year ago, it's an affordable moderate income unit. My income is much better now, and I want to buy a house at the regular market price. I know that I can't sell my condo for two more years, but I don't know if I can buy another house. Asked by martinsville - Sun Sep 7 17:06:39 2008 - - 2 Answers - 0 Comments A. You need to to do a couple of things: 1. Read over the affordable housing rules and regulations for your development and/or town, 2. Get in touch with the housing office of the town. This is very important because it is likely that you are not allowed to rent out your aflfordable unit (the units in my town are required to be owner-occupied.) Sometimes there is a clause in the regulations that allows for rental in extenuating circumstances (i.e. like if your job temporarily relocates.) I'm not sure why you would have to wait for two more years. Usually, the town maintains a waitlist of buyers for affordable housing, so you should have a buyer lined up. If you have enough income and capital to buy another house without selling your… [cont.] Answered by dalmanj - Tue Sep 9 18:06:12 2008 what is the relationship between affordable housing and national security?
Q. would the scarcity of good and affordable housing threaten national security? Asked by sola e - Mon Oct 26 15:41:31 2009 - - 2 Answers - 0 Comments From Yahoo Answer Search: "Affordable Housing"
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 boston.com Mon, 26 Jul 2010 14:03:35 GMT+00:00 in the works Boston Globe Up to three new affordable apartment projects are coming to the city through the Somerville Community ...  thedailyreview.com Thu, 29 Jul 2010 08:16:23 GMT+00:00 shortage Towanda Daily Review The county placed the six children in foster care "to try to keep them in a safe environment" until their families could find affordable housing , ...  flagpole.com Wed, 28 Jul 2010 03:55:32 GMT+00:00 Flagpole Magazine The Athens Land Trust, a local nonprofit which has built over 100 affordable housing units and conserved 981 acres of land to date, has recently acquired ... From Google News Search: "Affordable Housing"  rosefellowship.org 348px x 450px | 42.90kB [source page]  sanluisreyparish.org 343px x 575px | 120.80kB [source page] your parish and community in this important ministry 760 630 4417 For our Spanish speaking community please call Dionisio Suarez at 760 724 1378  behance.vo.llnwd.net 300px x 600px | 199.70kB [source page] New Affordable Housing From Yahoo Image Search: "Affordable Housing"  newburyportnews.com By Katie Farrell Lovett Sat, 24 Jul 2010 07:49:00 GM Newburyport at long last, families will finally be able to call 15 to 17 rear Titcomb St. home. Seven years a.  rentedspaces.com Leah Gillis ue, 06 Jul 2010 16:15:00 GM Santa Monica has some of the strictest laws in California regarding . affordable housing. , including rent control and inclusionary housing laws (I'll explain more in a minute). However, the Santa Monica Daily Press.  blogs.ft.com Jim Pickard ue, 06 Jul 2010 16:34:56 GM Why not cut the entire National . Affordable Housing. Programme , designed to produce more social housing* via grants to housing associations? The NAHP also provides five different HomeBuy schemes which subsidise first-time buyers and ... From Google Blog Search: "Affordable Housing" |
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