Entries Tagged 'Affordable Housing' ↓

THRIVE REPORT: Part I

I finally finished reading the 227 page Report (DOC: Affordable_Housing_Needs_Assessment_2016). I encourage others to do the same.

I will be breaking down some of the more interesting STATS I pulled from the report.

My initial analysis is that Sioux Falls is going down a GRIM path when it comes to Affordable Housing, unless we take action NOW. This is what the report is encouraging.

The Report Points out;

Poor or No coordination and inefficiency between affordable housing organizations

Household incomes at or below $25K are increasing at a drastic rate and the divide between rich and poor is growing while middle income stays stagnant.

Extreme population growth has contributed to problem.

The task force recommends starting with the most vunerable, children living in poverty.

This table shows the gap between rich and poor and really how the poor are getting poorer and the rich increasing at a faster pace.

This table shows the projected enormous growth in the Healthcare industry in SF.

This shows the poverty that exists within our school system.

37% of SF workers make under $25K

THRIVE REPORT: Part II

This table shows the exploding home values.

This breaks down rental property in zip codes.

This breaks down rental rates in SF.

This breaks down income and home ownership.

This shows the percentages of school kids living in poverty.

THRIVE REPORT: Part III

These are some comments from people looking for affordable housing.

These comments prove that affordable housing needs to be built in our core and not out by $300K homes.

These comments are about all the ‘HYPE’ in national rating firms and magazines.

THRIVE REPORT: Part IV (Final)

Affordable housing demands.

I love the following suggestions. I have often thought that TIF’s are being misused in SF, and should be directed at affordable housing like the Fargo model.

Final sources.

How about better paying jobs?

While I do agree we need affordable housing in Sioux Falls, I think it should be a private venture with tax and de-regulation incentives attached. One of the main reasons I bought a home was to save myself money on renting, my mortgage with escrow is about 75% of what most of my friends pay in rent (money they will never see again). Housing is affordable in Sioux Falls, apartments are not. We should be spending the money on encouraging home ownership. Taxpayer subsidies for affordable housing is just putting a bandaid on the problem;

Affordable housing is likely to be just one issue that comes up tonight as council members take up the budget.

I think we should focus on stopping unemployment in Sioux Falls and start bringing in higher paying manufacturing jobs instead of encouraging people to stay in a working poor job.