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September 22, 2015 / Washington Regional Association of Grantmakers

Troubling projections for severely cost-burdened renters over the next 10 years

New research from Enterprise Community Partners and the Harvard Joint Center for Housing Studies looks at the trends on the horizon for severely cost-burdened renters. Low vacancy rates and stagnant wages are projected to make the rental market even less affordable as more Americans opt out of homeownership. (Atlantic, 9/21)

The researchers estimate that the current rental crunch—the one where vacancies are around 7 percent, about half of renters spend more than 30 percent of their salaries on housing, and one quarter spend 50 percent or more—is only going to get worse over the next decade. Even if housing prices and income rise as quickly as inflation (about 2 percent annually) the number of severely rent-burdened Americans (those paying 50 percent or more) would increase by 11 percent over the decade, to over 13 million people in 2025.

The full white paper, Projecting Trends in Severely Cost-Burdened Renters: 2015-2025, can be found here.

– In her latest blog post, WRAG president Tamara Copeland examines how homeownership, once the American dream that promised greater financial stability, is no longer accessible to many in the Greater Washington region. (Daily, 9/22)

– David Bowers, vice president and Mid-Atlantic market leader for Enterprise Community Partners, goes further to address the Washington region’s need for a major response to the affordable housing crunch affecting homeowners and renters at various income levels. (GGW, 9/21)

PHILANTHROPY | On the Center for Effective Philanthropy’s blog, Maggie Osborn – head of WRAG’s colleague organization, the Connecticut Council for Philanthropy, asks, “What does the music of philanthropy sound like?” (CEP, 9/22)

AGING/HEALTH | Opinion: While the nation’s fastest-growing age group is over 65-years-old, the number of geriatricians in practice continues to dwindle. Some are warning of an impending crisis if the problem is not addressed. (NYT, 9/22)

– Va.’s August unemployment rate sees decrease (Loudoun Times, 9/18)

– We often hear about a skills shortage in today’s workforce in the news, but when it comes to finding a root cause, it’s often a blame game. (Atlantic, 9/22)

According to recent research, we’re all walking around in a little cloud of “personal dust” á la Pigpen.

– Ciara

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