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CityFHEPS Expands its Rental Assistance Across NYS

While the shelter populations have risen to unprecedented levels in New York City (“NYC”), NYC’s affordable housing options have decreased. On September 26, 2023, NYC Mayor Eric Adams announced the newest CityFHEPS rental assistance program expansion to address this issue. The CityFHEPS program extends its reach to housing units all across New York State, not just limited to the city. This expansion opens more space in the shelters for asylum seekers and increases stable housing for eligi...

Tags: Affordable Housing, asylum seekers, CityFHEPS, expansion, low-income, market-rate units, reforms, rental assistance, voucher program

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How Long Can Affordable Housing Survive in the Top 20 Metro Cities?

New York, Dallas, and Austin are the top three cities that studies predict will have the highest rates of new rental units completed in 2023. New York, out of the three cities, will have the highest number of new rental units built by 2023, totaling 33,001. The majority of the new rental units are high-end and offered for an expensive rental price. Survey shows that 41% of renters living in these areas are from an affluent economic class who can afford these high prices. Along with the incre...

Tags: affluent, Affordable Housing, Development, development cost, inflation, interest rates, Manhattan, metro areas, rental units, RentCafe

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When Will Housing Prices Drop?

The median home price in the U.S. is down 2% year-over-year due to rising interest rates, high inflation, and low housing inventory. However, the housing market is still relatively strong, and prices are expected to remain stable in the coming months. Despite the slowdown, prices are still expected to increase by 2.9% in 2023. It is difficult to say when housing prices will drop, but factors such as rising interest rates, high inflation, and a decline in the stock market could lead to a dec...

Tags: economy, existing home sales, home prices, Housing, housing market, inflation, interest rates, real estate

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