Affordable Housing Proposal

1116 Words3 Pages

BACKGROUND
In a county where some of the wealthiest people reside, Orange County does include areas where low-income families struggle to afford housing. Since the 2008 recession, federal funds to construct new, less-expensive homes have drastically decreased—the Orange County Register reports it to be 76 percent. Foreclosures enabled most to lose their homes and forced many to join the rental market. This increased the quantity of renters in the county in the past decade. However, rent is not exactly affordable, and with the decrease in income, this made it much more difficult for families to live in decent homes. On top of that, not enough was being done by the local government to solve this problem. This is due to the fact that the timing …show more content…

Joseph Alcock reiterates that a “lack of affordable housing can be a barrier to a strong reliable economy” (9). High housing costs can influence where businesses and corporations decide to locate, which will affect the local economy. First-time homebuyers will most likely shy away from moving to Orange County because of these high prices on homes. In addition, many people leave after graduating from local college and universities because families probably not want to continue paying a lot for their own homes. These youthful passage level specialists drive neighborhood economies. On the off chance that they can't stand to live in the area, nearby economies will endure. An absence of affordable housing can push zone specialists to settle outside of the territory, bringing about longer drives, expanded movement blockage and contamination, diminished efficiency, and a reduced personal satisfaction for the area. An absence of reasonable rental housing confines the capacity of tenants to put something aside for an initial installment on a home, which restricts their capacity to in the end get to be property holders and assemble individual riches through housing appreciation. An absence of affordable housing improves the probability of vagrancy. An absence of reasonable housing has brought about congestion and critical increments in family unit and group stress. An absence of affordable housing causes families to live in substandard dangerous …show more content…

These include the passage of Proposition 13 and the realignment of local government funds, which has advocated for local governments to pursue retail and business establishment over residential development. Two, the increased usage of exactions like impact fees has contributed to the existing affordable housing crisis. In order to close the financial gap caused by Proposition 13, local cities began using exactions, regulations and fees increasingly. Because of this, residential development costs have hiked up throughout much of the state. In addition, the passing of growth control measures, which have artificially restricted the supply of developable land, has further caused housing construction costs to increase. Another factor would include NIMBYism, also known as neighborhood opposition, towards new affordable housing development, which has hindered the growth of affordable housing development over time. Much of the state and federal funding for residential development has declined, which makes it much more difficult for new construction of homes. This has also increased the dependence on exactions and other taxes which have enabled the affordable housing production costs to rise exponentially. Another factor that has made it financially difficult to produce new housing are the excessive regulations mandated by the state. With these costs, fewer houses

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