Home building immediately stimulates the economy. In addition to providing jobs to workers in the construction industry, funds flow to a variety of local service and goods providers and to local governments in the form of fees and taxes. These funds then ripple through the economy as workers spend their wages in local businesses and businesses replenish their stock.
Data and Statistics
Report: Community land trust homeowners have lower foreclosure, delinquency rates
News from our friends across the street at Champlain Housing Trust (CHT): A new study shows community land trust homeowners have lower foreclosure and delinquency rates.
The numbers come from a new report published by Emily Thaden, a researcher at Vanderbilt University, and the National Community Land Trust Network. They show "conventional" homeowners were eight times more likely to be in the process of foreclosure than land trust homeowners at the end of the fourth quarter of 2009.
Report: Vermont housing some of New England's least affordable
The New England Public Policy Center published a report this month that shows Vermont's housing is some of the least affordable of all New England states.
Specifically, "young professionals" — 25- to 39-year-olds, out of school, holding bachelor degrees or higher — have a harder time affording housing in Vermont than in any other New England state.
In that category, Vermonters' ratio of annual household income to income needed to afford median-priced housing is 1.28. The other New England states' range from 1.29 (Rhode Island) to 1.59 (Maine).
The national ratio is 1.58.
CNN claims most homes affordable
A news headline we spotted yesterday took us by surprise: According to CNN.com, "Nearly 75% of homes are affordable."
A closer examination of the story reveals a couple of key conditions to their definition of affordable: "Nearly anyone with a decent job and a good credit score [our emphasis] can afford to buy ..."
The story caught our attention as we put the finishing touches on this year's "Between a Rock and a Hard Place: Housing and Wages in Vermont," our annual report on the state of Vermont's housing costs in relation to wages.
Housing data site updated
We’ve just completed our latest update to the Directory of Affordable Rental Housing (DoARH) at the Vermont Housing Data Web site.
The DoARH now contains detailed information on 12,894 units.
The Vermont Housing Data site is created and maintained by VHFA and the Center for Rural Studies (CRS) at the University of Vermont with input and guidance from Vermont’s housing community.
Housing data Web site updated
We've just completed our latest update to the "Vermont housing data profiles" section of the Vermont Housing Data Web site. We've added or updated:
Report: Vermont rental housing grows more out of reach
Vermonters who rent live in the 15th least affordable state in the nation, according to a new report released by the National Low Income Housing Coalition (NLIHC), a Washington, D.C., housing advocacy group, and the Vermont Affordable Housing Coalition (VAHC) in Burlington.
The annual "Out of Reach" report, released today, says rural Vermont is one of the 10 most expensive rural areas in the nation.
Vermont’s "Housing Wage" has risen to $17.70 per hour, or $36,812 a year. This represents an increase of 54% since 2000. The national Housing Wage for 2010 is $18.44.
Report: More families moving to Vermont
According to U-Haul International Inc., Vermont was one of the most moved-to states in the nation for 2009.
The company's annual "Top 10 U.S. Growth States" report shows Vermont is at the top of the list for states receiving 5,000 to 20,000 new families — with 16.67 percent more families moving in than moving out.
Vermont overtook Maine, which held the top spot for the two previous years.
For states receiving more than 20,000 families in 2009, Kentucky experienced the greatest growth: 5.76 percent.
Need a Census form?
Haven't received your 2010 U.S. Census form in the mail? You should have by now. Don't be left out of the count: Call toll-free to get your form: (866) 872-6868.
You might not have yet received your form because the Census Bureau might want to count your household in person. Or the Bureau might not know about your housing unit.
To be safe, call the Census today and make sure you're not being missed.
Census data is used, among other things, to help determine allocation of vital federal funding, so an accurate count is very important.
Burlington ranked 47th most expensive homeownership market
The Center for Housing Policy's "Paycheck to Paycheck" report, released today, ranks Burlington, Vt., the 47th most expensive homeownership market out of 206.
The city ranks the 35th most expensive rental market out of 210.
"Purchasing a home remains unaffordable for many key community workers despite historically low mortgage interest rates and steep drops in home prices," according to a release issued by the center.