Report: $460B in HUD spending barely impacted housing affordability
The analysis found median home prices outpaced wages in all 50 states, and a 20% down payment exceeds annual income in every state but Alaska.
- On Monday, Open The Books released a report finding HUD spent more than $460 billion on 18 housing programs between 2015 and 2024, yet the affordability gap narrowed by only 2.75%.
- Idaho faces the highest affordability gap with a score of 83.3, reflecting median home prices surging 151% while incomes rose only 68% from 2015 to 2024; Florida follows with a 77.2 gap.
- Down payments exceed 100% of pre-tax income in every state except Alaska, with Maine residents facing costs of 251% of their annual income as median home prices exceed $962,000.
- Christopher Neefus, vice president of communications at Open The Books, called the findings a sign of "generational tension," arguing top-down government investment often fails to control costs or reach those who need it most.
- Real reform should prioritize local solutions to better understand community needs, Neefus argued; Louisiana currently has the lowest affordability gap of 6.6, with home prices rising 40% and income increasing 33.4% over the decade.
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Billions spent by key federal agency hasn't made American dream of homeownership any easier: report
Home ownership has slipped further away from Americans over the last decade as home prices outpaced incomes in all 50 states despite $460 billion in federal housing spending.
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Louisiana has lowest gap: Louisiana had the lowest housing affordability gap in the nation, with home prices rising 40% from 2015 to 2024 while median household income increased 33.4%. The state also ranked among the states with the most attainable 20% down payments, although the typical Louisiana down payment still equaled more than a year of median pre-tax household income. Louisiana has fared better than most states on housing affordability, …
‘The dream is out of reach’: New report shows just how ‘staggering’ the housing crisis is
Source link A new report appears to the show the true extent of the U.S. housing crisis. U.S. Department of Housing and Urban Development (HUD) spending appears to have no effect on lowing housing prices, according to a recent report by government spending watchdog OpenTheBooks.com, which analyzed data released by the U.S. Census Bureau and
The Paintsville Herald
Report: $460B in HUD spending barely impacted housing affordability
(The Center Square) – The typical American has to save for at least a decade to afford a home in their state, despite the federal government spending nearly half a trillion dollars on housing programs since 2015, a new report…
Report: $460B in HUD spending barely improved housing affordability
Report: $460B in HUD spending barely improved housing affordability Click this link for the original source of this article. Author: The Center Square This content is courtesy of, and owned and copyrighted by, https://www.offthepress.com and its author. This content is made available by use of the public RSS feed offered by the host site and...
Report: $460B in HUD spending barely impacted housing affordability - BIZ Magazine
By Thérèse Boudreaux | The Center Square (The Center Square) – The typical American has to save for at least a decade to afford a home in their state, despite the federal government spending nearly half a trillion dollars on …
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