Enterprise: Community Developments: Enterprise Releases New Interactive Report on Trends in Owned and Rented Housing
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- Today the Enterprise Policy Development & Research team released a new report that examines how tenure rates - that is, whether people own or rent -- by age, race/ethnicity, and income differ from the national trend over time, resulting in uneven distributions of owners and renters. This report, which draws upon data published today by the U.S. Census Bureau's Housing Vacancy Survey (HVS), includes a series of interactive graphics that examine tenure shares of specific groups through the late-1990s and early-2000s housing boom, the late-2000s downturn, and the current recovery. Those graphics show that while all subsets of households saw increases in homeownership during the boom, the magnitude of these gains varied. During the subsequent housing downturn, senior, Hispanic, and Asian households managed to retain most of their homeownership gains, while groups such as black and middle-aged households returned to or exceeded their pre-boom shares of renting households. The graphics also highlight that since 2016, with the overall homeownership rate rising again, different groups have followed noticeably different patterns: young, low-income and Hispanic households have the biggest growth in homeownership; rates for high-income and white households remain steady; and senior homeownership rates actually declining. Learn more about the report in an Enterprise blog post.
- An article in The Atlantic this week explores the promise for a particular Opportunity Zone in Fresno, California, stating that “census tract 06019000100 has a lot going for it” yet, “has its problems.” A new Enterprise blog post explains that stakeholders in Fresno and across the nation can use our updated Opportunity360 state mapping tool to access data reports that can help them create data-driven policies that could align Opportunity Fund investments with local priorities and community needs. Furthermore, if the federal government decides not to require impact reporting, these data reports could be used to track how communities with Opportunity Fund investments have changed across a number of different factors over time. Learn more about how Opportunity 360 data reports can be used to better understand the characteristics of all 8700+ Opportunity Zones.
- Yesterday the House of Representatives passed legislation to extend to the National Flood Insurance Program (NFIP) for another four months. The NFIP, which is set to expire on Tuesday, July 31, has seen a series of short-term extensions while lawmakers debate longer-term options. A long-term reauthorization bill passed the House last November, but it was stalled in the Senate, leaving many at-risk communities facing uncertainty and potential financial ruin during the peak of hurricane season. If the current bill passes the Senate, lawmakers would have until November 30 to adopt reforms to the program, which reached $25 billion in debt before last year's hurricanes. (HousingWire, July 25)