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Health

Why the ROAD Act could shrink America’s housing supply, not expand it

by Chief Editor
written by Chief Editor

The Senate’s Housing Gamble: Will the ROAD Act Pave the Way to More Homes or Fewer?

Earlier this month, the U.S. Senate passed the 21st Century ROAD to Housing Act with a striking 89 to 10 vote. The bill, spearheaded by Senator Elizabeth Warren (D-Mass.), takes aim at the single-family rental industry, arguing it exacerbates the nation’s housing shortage. But experts are raising concerns that the Act, intended to boost housing availability, could inadvertently stifle investment and worsen the problem it seeks to solve.

The Core Argument: Institutional Investors and the Housing Supply

The central premise of the ROAD Act is that large institutional investors are reducing the supply of homes available for purchase by acquiring properties and converting them into rentals. This practice, proponents argue, drives up prices and limits choices for potential homebuyers. President Trump has publicly expressed support for curbing investor activity in the single-family home market, even issuing an executive order in January to that effect.

A Potential Backfire: Curbing Investment in Modern Construction

However, critics suggest the Act’s provisions could have unintended consequences. Ed Pinto, director of the American Enterprise Institute’s Housing Center and former chief credit officer at Fannie Mae, argues the bill could severely curtail investment in new single-family housing. He describes the legislation as a “textbook example of the law of unintended consequences.”

Why Single-Family Rentals Exist in the First Place

Pinto highlights that the demand for single-family rentals has grown because many potential buyers are unable to qualify for a mortgage due to insufficient savings, income, or credit scores. Others may prefer renting due to short-term relocation plans or a desire to avoid the responsibilities of homeownership. These renters often seek the space and amenities – bedrooms and backyards – that apartments typically don’t offer.

The Role of Rehab Investors and Build-to-Rent

Currently, companies like Amherst acquire properties, often in disrepair, and invest in renovations. Amherst alone has reportedly fixed up 58,000 homes, spending around $40,000 per property, totaling over $2 billion in investment. Another segment of the industry focuses on “build-to-rent” developments, constructing entire neighborhoods of homes specifically for rental purposes.

Challenging the Narrative: Renovations and Market Dynamics

Proponents of the ROAD Act believe purpose-built rentals don’t add to the housing supply and that buying and rehabbing homes reduces the number available for sale. Pinto disputes both claims. He points out that many rehabbed homes are initially in such poor condition they aren’t viable for sale or rent. Renovations bring them back onto the market, and investors often sell these properties when market conditions are favorable, effectively increasing the supply.

Key Provisions and Their Potential Impact

The ROAD Act includes two key provisions that are raising concerns. First, it prohibits “large institutional investors” – defined as entities owning 350 or more homes – from purchasing additional properties, with penalties reaching around $1 million for violations. Second, it mandates that any newly constructed rental homes must be sold after seven years of being leased.

This seven-year sell-off requirement is already “totally chilling financing for purpose-built rentals,” according to Pinto. Private capital investors, such as insurance companies and pension funds, prefer long-term investments and are hesitant to commit to projects with a forced sale date. The Act also grants broad discretionary power to the Secretary of the Treasury, potentially allowing for further restrictions on ownership.

A Small Slice of a Large Pie

Despite the focus on institutional investors, their total portfolio represents a relatively small percentage of the overall housing market – around 800,000 properties, or approximately 1% of all existing homes in the U.S. However, Pinto emphasizes that these investors play a crucial role in bringing new supply to the market, particularly in rapidly growing states like Texas, Florida, and North Carolina, adding roughly 40,000 purpose-built rental homes annually.

Market Forces and the Natural Ebb and Flow

The argument against the ROAD Act centers on the idea that market forces naturally regulate the balance between renting and buying. When home prices are high, more people rent, easing pressure on the for-sale market. Conversely, when homeownership becomes more affordable, demand shifts, and rental properties may be sold, further balancing the market. The single-family rental industry, according to this view, helps facilitate this natural ebb and flow.

FAQ: The 21st Century ROAD to Housing Act

Q: What is the main goal of the ROAD Act?
A: To increase housing affordability and availability by addressing perceived issues with institutional investors in the single-family rental market.

Q: What defines a “large institutional investor” under the ROAD Act?
A: Any for-profit entity that owns 350 or more single-family homes.

Q: What is the seven-year rule?
A: Newly constructed rental homes must be sold after seven years of being leased.

Q: Could the ROAD Act actually reduce housing supply?
A: Experts like Ed Pinto argue that the Act’s provisions could discourage investment in new construction and renovations, ultimately limiting the availability of homes.

Did you realize? The single-family rental industry has grown significantly in the last 15 years, driven by increasing demand from those unable to qualify for a mortgage or preferring the flexibility of renting.

Pro Tip: Stay informed about legislative changes impacting the housing market. Understanding these policies can help you make informed decisions whether you’re buying, selling, or renting.

What are your thoughts on the ROAD Act? Share your opinions in the comments below! Explore our other articles on housing market trends and real estate investment for more insights.

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News

The 31-Year-Old Lobbyist Fighting the Rent Freeze

by Rachel Morgan News Editor
written by Rachel Morgan News Editor

Over a half-melted peanut-butter açai bowl in the Bronx’s Pelham Bay neighborhood, Kenny Burgos, CEO of the Modern York Apartment Association, argues that rents for nearly a million New York apartments need to increase. Burgos states that “The Bronx, to this day, has buildings that are almost 100 percent — if not 100 percent — regulated,” and that these are often the buildings “that are struggling the most, that have the highest violation counts.” He believes increasing rents is necessary to maintain habitable conditions in these buildings. Burgos, a former assemblyman, acknowledges this position is unpopular, particularly given the current mayor’s campaign promise to freeze rents on stabilized apartments. “I do this work because I know I’m right,” Burgos says, “And I know that we are on a path to destroy the housing people live in.”

A Familiar Face in Albany

Burgos maintains a friendly relationship with Mayor Mamdani, despite now opposing his housing policies. The two met while serving in the State Assembly, having both been elected in 2020; Burgos represented the 85th District in the Bronx, while Mamdani represented Astoria and parts of Queens, an area referred to as “Commie Corridor.” They bonded over shared interests in music and internet culture, appreciating each other’s presence as young officials seeking to redefine the role. They even played basketball on Tuesdays in Albany and shared a hookah on Steinway Street.

Ideological Clash at the Rent Guidelines Board

The differing ideologies of Burgos and Mamdani will come to a head at the annual Rent Guidelines Board meetings in March. These meetings determine allowable rent increases for stabilized apartments, and the mayor’s proposed four-year rent freeze is now at stake. Burgos and his team have been preparing arguments to present to the board, anticipating being positioned as the opposition. He believes that, based on data and current trends, the current path is “not sustainable.”

Did You Know? The New York Apartment Association, led by Kenny Burgos, represents property owners and managers of approximately 500,000 rent-stabilized apartments.

The affordable-housing crisis is attributed to a combination of factors, including rising rents, low vacancy rates, and a slow pace of new development. However, the question of who bears the brunt of the cost – tenants or landlords – remains a central point of contention. According to a report by NYU’s Furman Center, nearly half of the city’s rent-stabilized units are in “legacy properties” built before 1974, concentrated in northern Manhattan and the Bronx, with a median rent of $1,400 a month in 2023. Both Mamdani and Burgos agree that addressing the city’s complicated property-tax system and rising insurance fees could facilitate improve conditions in these buildings.

Differing Views on Building Disrepair

Mamdani and his team attribute the disrepair of rent-stabilized buildings to speculation and “slumlordism,” arguing that only a compact percentage of buildings with stabilized units are financially distressed. Burgos disagrees, stating that this measurement doesn’t account for landlords’ debt service. He also criticizes the state’s “hardship” program for landlords as ineffective, calling it “a program in name only.”

Burgos believes a 2019 law exacerbated the problems facing rent-stabilized housing. Prior to the Housing Stability and Tenant Protection Act, landlords had more flexibility to increase rents and convert regulated apartments to market rate. This incentivized investment in stabilized properties, but the 2019 law limited rent increases and conversions, reducing profit margins and, according to Burgos, leading to deferred maintenance and empty units. He argues What we have is “a math problem, not an emotional one,” and that a rent freeze will worsen the situation.

Expert Insight: The core of the disagreement between Burgos and Mamdani centers on the financial viability of rent-stabilized housing. Burgos’s argument highlights the potential for economic disincentives to maintain properties under strict rent control, while Mamdani’s approach focuses on addressing perceived exploitative practices by landlords.

Burgos took his current position in the summer of 2024 following a merger of two landlord lobbying groups. He and his wife were anticipating their first child, and the role offered a reprieve from his Albany commute. Like Mamdani, Burgos utilizes social media platforms like Instagram and TikTok to communicate housing policy. Despite spending $2.5 million to oppose Mamdani’s election, Burgos sometimes finds himself compared to the mayor, even being jokingly referred to as “Temu Zohran” or “Wario.”

In a final anecdote, Burgos is described as health-conscious, meticulously tracking his caloric intake, even while enjoying a 1,200-calorie açai bowl. He emphasizes that “healthy” and “low calorie” are not necessarily synonymous.

Frequently Asked Questions

What is Kenny Burgos’s position on rent control?

Kenny Burgos believes that rents for nearly a million apartments in New York need to increase to ensure the habitability of buildings, particularly those in the Bronx that are almost entirely rent-regulated.

What is the relationship between Kenny Burgos and Mayor Mamdani?

Burgos and Mamdani were classmates at Bronx Science and served together in the State Assembly, developing a friendly relationship based on shared interests. However, they now find themselves on opposing sides of the debate over rent control.

What law does Burgos believe negatively impacted rent-stabilized housing?

Burgos believes the 2019 Housing Stability and Tenant Protection Act limited landlords’ ability to raise rents and convert units, leading to decreased investment and deferred maintenance.

How will differing approaches to housing affordability impact New York City residents in the coming months and years?

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Entertainment

Absent family support, they went from children’s home to rented flat. This is how they managed

by Chief Editor
written by Chief Editor

The Growing Pains of Independent Living: Supporting Young Adults Transitioning from Care

For young adults who age out of institutional care, the simple act of managing finances and housing can be profoundly empowering. Having limited control over life choices earlier on makes these decisions feel particularly significant. However, this newfound independence often comes with a steep learning curve, and a series of unexpected financial and logistical challenges.

The Reality of Rental Agreements and Unexpected Costs

One common hurdle is navigating the complexities of rental agreements. A recent case highlighted the importance of carefully reviewing contracts, even when a property appears move-in ready. Participants in a program found themselves responsible for repainting a flat at the end of their lease, despite some defects not being their fault. While the contract stipulated tenant responsibility for repairs, the situation underscored differing interpretations between landlords and tenants.

This isn’t an isolated incident. Many young people entering the rental market for the first time are unaware of the nuances within lease agreements. Clauses regarding wear and tear, repairs, and deposit returns can be particularly problematic. Understanding these details is crucial to avoiding unexpected expenses.

The Affordability Crisis and the Need for Support Systems

The expectation that 19- to 21-year-olds without family backing can fully cover open market rents is often unrealistic. Rising housing costs exacerbate this issue, placing a significant strain on already limited resources. Support programs, like Thrive21+, play a vital role in providing a safety net and a space for young adults to practice independent living skills.

These programs aren’t simply about providing financial assistance; they’re about fostering financial literacy and responsible decision-making. Learning from mistakes – like underestimating repair costs – is a valuable part of the process, but it’s a process that benefits from guidance and support.

Beyond Housing: Broader Financial Literacy Needs

The challenges extend beyond housing. Young adults transitioning to independence often lack experience with budgeting, credit management, and long-term financial planning. This can lead to poor financial decisions and increased vulnerability to debt.

Pro Tip: Before signing a lease, create a detailed budget that includes not only rent but also utilities, transportation, food, and potential repair costs. Factor in a buffer for unexpected expenses.

The Role of Community Organizations and Government Initiatives

Organizations dedicated to supporting vulnerable youth are increasingly focusing on comprehensive life skills training. This includes workshops on financial literacy, tenant rights, and conflict resolution. Government initiatives aimed at providing affordable housing and financial assistance are also crucial.

Did you know? Many cities and counties offer free or low-cost financial counseling services. These services can provide personalized guidance and support.

Looking Ahead: Trends in Support for Transitioning Youth

The need for robust support systems for young adults aging out of care is only going to increase. Several trends are shaping the future of this landscape:

  • Increased Focus on Preventative Measures: Programs are shifting towards earlier intervention, providing support and guidance while young people are still in care to prepare them for independent living.
  • Technology-Enabled Solutions: Mobile apps and online platforms are being developed to provide financial literacy training, connect young adults with resources, and facilitate access to affordable housing.
  • Collaboration Between Sectors: Greater collaboration between government agencies, non-profit organizations, and the private sector is essential to create a comprehensive and coordinated system of support.

FAQ

Q: What should I look for in a rental agreement?
A: Pay close attention to clauses regarding repairs, maintenance, deposit returns, and termination of the lease.

Q: What if I disagree with my landlord about a repair?
A: Document everything in writing and seek legal advice if necessary.

Q: Where can I find financial literacy resources?
A: Many community organizations and government agencies offer free financial counseling services.

Q: Is it common for tenants to be responsible for repainting?
A: It depends on the lease agreement and local laws. Some jurisdictions limit a landlord’s ability to charge tenants for normal wear and tear.

Aim for to learn more about supporting young adults transitioning to independence? Explore our other articles on youth services or subscribe to our newsletter for the latest updates.

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Tech

Baltimore to add low-cost internet to 8 public housing complexes

by Chief Editor
written by Chief Editor

This story was made possible through support from TEDCO, the Maryland Technology Development Corporation, which enhances economic empowerment growth through the fostering of an inclusive entrepreneurial innovation ecosystem. TEDCO identifies, invests in, and helps grow technology and life science-based companies in Maryland. Learn more at tedcomd.com.

Money Moves is a recurring series where we chart the raises, grants, contracts, mergers and other funding news of tech companies across our regions. Have a tip? Email us at [email protected].

Baltimore Bridges the Digital Divide with $22 Million Broadband Initiative

Baltimore City is taking significant steps to address digital equity, investing nearly $22 million to expand low-cost internet access to over 4,000 public housing units. This initiative, leveraging a local internet service provider, Port Networks, will offer residents internet service for just $20 a month – significantly less than the national average.

Fiber-Optic Future: A Model for Affordable Connectivity

The city’s strategy centers around utilizing its existing publicly owned fiber network. This approach allows providers to build upon established infrastructure, accelerating deployment and reducing costs. Leyla Layman, BCIT’s interim CIO, highlighted that this existing infrastructure will allow residents to receive broadband service faster than many other communities nationwide.

The success of a similar project at the Hammond at Greenmount Park development demonstrates the viability of this model. By avoiding the expense of building infrastructure from scratch, Baltimore is creating a blueprint for other cities seeking to close the digital divide.

Biotech Innovation Gains Momentum with ETC Investment

Beyond connectivity, Baltimore’s innovation ecosystem is receiving a boost through strategic investments. Emerging Technology Centers (ETC) Baltimore recently invested $200,000 in JuneBrain, a biotech company developing a novel device for diagnosing retinal and brain diseases. This marks ETC’s first investment in over a year and signals a renewed focus on supporting early-stage companies.

ETC will also provide JuneBrain with crucial commercialization support, including introductions to potential investors and technical guidance. This holistic approach – combining financial investment with mentorship – is critical for nurturing promising startups.

Maryland Invests $4 Million in AI and Cybersecurity Workforce Development

Recognizing the growing importance of artificial intelligence and cybersecurity, Governor Wes Moore is allocating $4 million to prepare Maryland’s workforce for these emerging fields. $2.5 million will fund workforce training programs in key industries, including life sciences and IT, while $1.5 million will support the establishment of cyber and AI clinics to serve schools, hospitals, and small businesses.

This investment will support training for approximately 600 aspiring cyber professionals through institutions like the Center for Critical Infrastructure Security, TCecure, and Howard Community College.

A Surge in Funding Across Maryland’s Tech Landscape

Recent funding activity demonstrates a vibrant and growing tech sector in Maryland. Several companies have secured significant investments, including:

  • 4MyCiTy: $50,000 to reduce local food waste.
  • Loyola University: $25,000 for Sunday Morning at Savannah’s, a bed and breakfast.
  • CraniUS: $20 million in Series B funding.
  • Cursive Technology: $125,000.
  • ApexQuantum: $200,000.
  • KnowledgeNet.ai: $500,000 from TEDCO’s Venture Fund.
  • POSTR Technologies: $1.9 million.
  • NanoBioFab: $200,000 through TEDCO’s Pre-Seed Builder Fund.

FAQ

Q: How much will internet access cost for residents in public housing?
A: Residents will be able to subscribe for $20 a month.

Q: What is ETC Baltimore?
A: ETC Baltimore is a subsidiary of the Baltimore Development Corporation that provides investment and support to early-stage companies.

Q: How is Maryland preparing its workforce for AI?
A: The state is investing $4 million in workforce training and cyber/AI clinics.

Q: What role is TEDCO playing in supporting Maryland’s innovation ecosystem?
A: TEDCO is providing funding and support to companies like KnowledgeNet.ai and NanoBioFab.

Maria Eberhart is a 2025-2026 corps member for Report for America, an initiative of The Groundtruth Project that pairs emerging journalists with local newsrooms. This position is supported in part by the Robert W. Deutsch Foundation and the Abell Foundation. Learn more about supporting our free and independent journalism.

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World

IN FOCUS: Why have Malaysia’s homes remained ‘seriously unaffordable’ for a decade and counting?

by Chief Editor
written by Chief Editor

Malaysia’s Housing Affordability Crisis: What Does the Future Hold?

The dream of homeownership is slipping away for many Malaysians. Recent discussions in Parliament, with Senator Michael Mujah Lihan highlighting soaring property prices and MP Muhammad Ismi Mat Taib questioning government action, underscore a growing national concern. While construction costs and property values climb, wage growth lags behind, creating a widening gap in affordability.

The Core Issues Driving Unaffordability

Analysts point to several key factors exacerbating the problem. Gradual income growth is a primary driver, coupled with increasingly long loan tenures. Developers, facing rising costs, often prioritize larger profit margins, further inflating prices. This creates a cycle where homes remain out of reach for a significant portion of the population and household debt related to residential loans continues to rise.

“It’s almost impossible for first-timers to buy a property in centralised locations especially in the urban areas,” notes Olive Tree Property Consultants chief executive Samuel Tan. The need for government intervention, potentially through land price subsidies, is becoming increasingly apparent to lower development costs.

Government Initiatives: A Partial Solution?

The Malaysian government recognizes the issue and has implemented various housing schemes aimed at assisting the bottom 40% (B40) and middle 40% (M40) income earners. These schemes typically have eligibility criteria based on citizenship and household income, offering homes priced around RM300,000 with flexible financing options, including rent-to-own programs.

Key federal initiatives include PR1MA, a government-linked company building affordable homes nationwide through direct construction or joint ventures. PR1MA properties range in price from RM150,000 to over RM500,000, depending on location. Residensi Wilayah specifically targets Malaysians working in Kuala Lumpur, Putrajaya, and Labuan, with prices ranging from RM200,000 to over RM400,000.

Potential Future Trends & Challenges

Looking ahead, several trends could shape Malaysia’s housing market. Increased focus on sustainable and green building practices may drive up initial construction costs, but potentially lower long-term utility bills for homeowners. The rise of digital technologies, such as virtual reality property tours and online mortgage applications, could streamline the buying process.

However, significant challenges remain. Continued inflationary pressures and potential economic slowdowns could further erode affordability. The availability of suitable land in prime urban areas is limited, pushing development towards the outskirts, potentially increasing transportation costs and commute times for residents.

Did you grasp? Senator Michael Mujah Lihan raised concerns in Parliament on February 26th regarding the increasing unaffordability of property in major Malaysian cities.

The Role of Innovative Financing Models

Beyond traditional mortgages, innovative financing models could play a crucial role. Shared equity schemes, where the government or a third party co-owns a property with the buyer, could reduce the initial financial burden. Micro-financing options tailored to first-time homebuyers could also provide access to capital.

Pro Tip: Explore government housing schemes early in your home-buying journey. Understanding the eligibility criteria and application process can save you time and money.

The Impact of Decentralization and Rural Development

Promoting decentralization and investing in rural development could alleviate pressure on urban housing markets. By creating economic opportunities in smaller towns and cities, the government can encourage people to consider living outside of major metropolitan areas, potentially lowering demand and prices in urban centers.

FAQ

  • What is PR1MA? PR1MA is a government-linked company that builds affordable homes across Malaysia.
  • Who is eligible for Residensi Wilayah? Malaysians working in Kuala Lumpur, Putrajaya, and Labuan are eligible for Residensi Wilayah.
  • What is driving up property prices in Malaysia? Slow income growth, rising construction costs, and developer profit margins are key factors.
  • Is Muhammad Ismi Mat Taib involved in addressing housing affordability? Yes, as the Member of Parliament for Parit, he has questioned the government on its approach to high home prices.

What are your thoughts on the future of housing affordability in Malaysia? Share your opinions in the comments below!

Explore more: Read our article on sustainable housing trends in Southeast Asia

Stay informed: Subscribe to our newsletter for the latest property market updates

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Tech

Homeowner Asks ChatGPT for Help Decorating—People Notice One Big Problem

by Chief Editor
written by Chief Editor

AI Interior Design: The Rise of the Virtual Decorator and What It Means for Homeowners

A recent viral post on Threads is sparking a wider conversation about the capabilities – and limitations – of artificial intelligence in creative fields. A homeowner, Sean-Michael Ryan (@goldn_charmr), shared his experience using ChatGPT to redesign his living room, and the results were… unexpected. The AI not only furnished the space but also seemingly added architectural features that didn’t exist, like an extra window and ceiling lights. The post, which has garnered over 859,000 views as of February 25, highlights a growing trend: homeowners are turning to AI for design inspiration, but should they?

The Allure of AI-Powered Design

The appeal is clear. Home renovation spending is on the rise. According to a Houzz survey, the median renovation cost jumped 60% between 2020 and 2023, reaching $24,000. With significant investments on the line, many homeowners are seeking affordable and accessible design solutions. AI tools like ChatGPT offer a quick and effortless way to visualize potential changes, experiment with different styles, and potentially save on professional interior design fees.

Where AI Gets It Wrong (and Why)

Ryan’s experience isn’t isolated. Several commenters on his post pointed out inaccuracies in the AI’s design, noting issues with scale and spatial awareness. User @joyfuldesignsstudio observed that the AI expanded the floor space and proposed furniture arrangements that wouldn’t physically fit. Others, like @debrowley_adhdtherapist, simply pointed out the addition of nonexistent features.

The core issue appears to be AI’s reliance on pattern recognition and logical extrapolation. While ChatGPT can understand design principles and generate aesthetically pleasing images, it struggles with the nuances of real-world spaces. Even when provided with detailed dimensions, as Ryan did, the AI can misinterpret the information or prioritize visual appeal over practicality.

Beyond Decoration: AI’s Expanding Role in Home Design

Despite these challenges, the potential for AI in home design is significant. The technology is evolving rapidly, and future iterations are likely to address current limitations. One can anticipate several key trends:

  • Hyper-Personalization: AI will move beyond generic design suggestions to create truly personalized spaces based on individual preferences, lifestyles, and even emotional responses.
  • AR/VR Integration: Imagine using augmented reality to overlay AI-generated designs onto your actual living room, allowing you to “walk through” the space before making any changes.
  • Smart Home Integration: AI could seamlessly integrate design choices with smart home technology, automatically adjusting lighting, temperature, and other settings to create the perfect ambiance.
  • Automated Shopping: AI-powered platforms could not only design your space but also source and purchase the necessary furniture and décor, streamlining the entire renovation process.

The Human Element Remains Crucial

While AI can be a powerful tool, it’s unlikely to replace human interior designers entirely. The best results will likely come from a collaborative approach, where AI handles the initial brainstorming and visualization, while a human designer provides the critical thinking, spatial awareness, and attention to detail that AI currently lacks.

As user @juststeve188 noted, ChatGPT “did well” with neutral aesthetics. This suggests AI excels at generating safe, broadly appealing designs, but may struggle with truly innovative or unconventional concepts that require a human touch.

FAQ

  • Can ChatGPT accurately design a room based on a single photo? No. The recent viral example demonstrates that ChatGPT can invent features not present in the original image.
  • Is AI interior design affordable? Currently, using tools like ChatGPT is free or low-cost. But, more sophisticated AI design platforms may charge subscription fees.
  • Will AI replace interior designers? Unlikely. AI is best used as a tool to assist designers, not replace them.
  • What data supports the growth of home renovation spending? A Houzz survey found a 60% increase in median renovation spend between 2020, and 2023.

Pro Tip: When using AI for design inspiration, always double-check the proposed layouts and dimensions to ensure they are practical and fit your space.

What are your thoughts on using AI for home design? Share your experiences and opinions in the comments below!

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Health

How a Colorado ski town reserved almost 75% of its full-time housing for workforce

by Chief Editor
written by Chief Editor

The Mountain Town Housing Revolution: Can Breckenridge’s Model Be Replicated?

Breckenridge, Colorado, is becoming a case study in how to tackle the increasingly dire housing crisis facing mountain towns across the American West. With nearly 75% of its full-time residences now reserved for local workers, the town is demonstrating a commitment to preserving community in the face of soaring property values. But can this success be replicated elsewhere?

The Perfect Storm: Tourism, Remote Work, and Rising Prices

The challenges facing Breckenridge aren’t unique. Across the West, towns like Jackson, Wyoming, and Whitefish, Montana, are grappling with similar issues. A Harvard University study reveals that home prices in rural vacation areas jumped over 50% between 2020 and 2023. This surge is fueled by a combination of factors: increased tourism, the influx of remote workers, and a limited housing supply constrained by geography.

The result? Essential workers – emergency medical technicians like Jake Carter, teachers, and service industry employees – are being priced out of the communities they serve. This threatens not only the local economy but also the exceptionally fabric of these towns.

Breckenridge’s Multi-Pronged Approach

Breckenridge hasn’t relied on a single solution. Instead, it’s implemented a comprehensive strategy built on several key pillars:

  • Land Banking: Proactively purchasing land for future workforce housing development.
  • Deed Restrictions: Requiring that properties remain occupied by local workers, limiting resale to those who meet workforce criteria.
  • Buy Downs: Purchasing properties as they come on the market, adding deed restrictions, and reselling them to locals at discounted rates.
  • Financial Incentives: Programs like “Housing Helps,” which provides down payment assistance in exchange for deed restrictions and limitations on property appreciation.
  • Strategic Annexation: Partnering with developers to secure deed restrictions on a significant percentage of new units in exchange for town services.

The town’s $50 million housing plan, approved in 2022, has already yielded over 400 new deed-restricted units, with another 300 expected in the next four years. Approximately 1,700 of the 2,300 resident-occupied homes in Breckenridge are now deed-restricted.

The “Housing Helps” Program: A Closer Look

The “Housing Helps” program is a particularly innovative approach. It incentivizes homeowners, buyers, and local businesses to add deed restrictions to properties, offering between 15% and 25% of the property’s value in return. Funds can be used for down payments, repairs, or other expenses. The program saw such high demand in 2024 that the town exhausted its entire budget by mid-August, prompting a $600,000 budget increase.

The modular Larkspur Apartments are constructed in 2023. The 52 units were a collaboration between Summit County and the Town of Breckenridge.

Challenges and Limitations

Breckenridge’s success isn’t without its caveats. The town’s financial resources, bolstered by a real estate transaction tax, are not universally available. Even with significant investment, affordability remains a concern. A new three-bedroom home in a recent development is expected to cost $780,000, highlighting the ongoing challenge of providing truly affordable housing in a high-cost market.

Converting short-term rentals to long-term housing also presents difficulties. While Breckenridge has capped new short-term rental licenses, a previous pilot program aimed at incentivizing conversions ultimately fizzled out.

The town still estimates a need for approximately 1,200 additional housing units to meet the demands of its workforce.

Lessons for Other Mountain Towns

According to Margaret Bowes, executive director of the Colorado Association of Ski Towns, Breckenridge’s success boils down to prioritization and investment. “They have made (workforce housing) a priority, and they put their money where their mouth is,” she said.

Collaboration is also key. Breckenridge’s housing director, Laurie Best, actively collaborates with other towns, like Aspen, which has a long-standing workforce housing program, to share best practices.

Preserving existing housing stock through deed restrictions and buy-downs is crucial, particularly in areas where land is limited.

FAQ: Breckenridge’s Housing Initiatives

  • What is “Housing Helps”? A program offering financial incentives to property owners who add deed restrictions to their properties, ensuring they are occupied by local workers.
  • What percentage of Breckenridge’s housing is deed-restricted? Approximately 75% of full-time residences are deed-restricted for the local workforce.
  • How is Breckenridge funding its housing initiatives? Through a real estate transaction tax, sales taxes, and a short-term rental fee.
  • Is Breckenridge’s model replicable in other towns? While challenging, the core principles of prioritization, investment, and collaboration can be adapted to suit different local contexts.

Pro Tip: Don’t underestimate the power of public-private partnerships. Engaging local businesses and developers can unlock additional resources and expertise.

As Breckenridge continues to refine its approach, it offers a valuable blueprint for other mountain towns striving to maintain their communities in the face of unprecedented housing pressures. The future of these towns may depend on their willingness to prioritize the needs of those who live and work there.

Did you know? Breckenridge estimates that most local working households are now living in some form of publicly assisted housing.

Explore further: Read more about workforce housing challenges in the West at High Country News.

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News

Rotorua motels used for emergency housing found to lack consent

by Rachel Morgan News Editor
written by Rachel Morgan News Editor

Rotorua Lakes Council is addressing the operation of two motels – Victoria Lodge and Gibson Court Motel – that have been providing emergency housing without the required resource consent. Under the District Plan, motels are permitted for short-term visitor accommodation, not as residential housing.

Compliance and Council Action

Council destination development manager Jean-Paul Gaston stated the council was aware of these motels’ leverage for emergency housing through the Ministry of Housing and Urban Development’s monthly reports. He also noted the council understands this type of use has been winding down as need reduces. While the council is not actively monitoring compliance, Gaston emphasized that it is the responsibility of motel operators to adhere to all regulations.

Did You Know? As of the finish of January, approximately 20 households in Rotorua were receiving emergency housing assistance.

The council will be contacting the operators of Victoria Lodge and Gibson Court Motel to inform them of the need to obtain consent to continue providing emergency housing. Where a genuine need for emergency accommodation exists, the council expects it to be provided safely and in accordance with government policy.

Ministry Response and Motel Perspectives

Ministry of Social Development (MSD) regional commissioner Jacob Davies confirmed that responsibility for ensuring proper consents are in place lies with both businesses and the council. Davies also stated that while contracted emergency housing has ended, non-contracted options remain available for those with a genuine need.

The owner of Victoria Lodge, who requested anonymity, indicated a willingness to revert to tourist accommodation, noting recent renovations to all 13 units. She stated that guests typically stay for short periods while seeking longer-term housing solutions. She had been operating exclusively as emergency housing since around 2021 or 2022, after initially beginning during the Covid-19 pandemic in 2020.

Expert Insight: The situation in Rotorua highlights the complex interplay between local regulations, national housing policies and the practical realities of providing emergency accommodation. The council’s enforcement of zoning regulations could potentially limit access to emergency housing, even as the MSD seeks to ensure support for those in need.

The owner acknowledged past issues with some guests, but reported improvements in recent months, noting that it has become more difficult for people to qualify for emergency housing and that she is no longer seeing the same level of social issues.

Frequently Asked Questions

What is the role of the Rotorua Lakes Council in this situation?

The Rotorua Lakes Council is responsible for ensuring that properties comply with the District Plan, which designates motels for short-term visitor accommodation, not residential housing. The council is now contacting the two motels to advise them they need consent to continue providing emergency housing.

What is the Ministry of Social Development’s position?

The MSD states that it is the responsibility of businesses and councils to ensure appropriate consents are in place. While contracted emergency housing has ended, non-contracted options remain available, and the MSD will continue to provide support to those with a genuine need.

What has been the experience of the Victoria Lodge owner?

The owner of Victoria Lodge stated she is willing to return to operating as a tourist accommodation and that recent renovations have prepared the motel for that transition. She also noted improvements in the behavior of guests in recent months.

How might the need for emergency housing and local zoning regulations continue to intersect in Rotorua?

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Business

Brisbane house prices set to increase by almost 20 per cent over next two years, KPMG report finds

by Chief Editor
written by Chief Editor

Brisbane’s Property Boom: Will the Heat Continue Through 2026 and Beyond?

Brisbane’s property market is showing remarkable resilience, with forecasts predicting continued price growth well into 2026. A recent KPMG report indicates a potential surge of nearly 11% this year alone, positioning Queensland’s capital as a national hotspot, second only to Perth. But what’s driving this sustained boom, and can prospective buyers and investors expect this trend to continue?

The Numbers Tell the Story: A Deep Dive into Forecasts

KPMG’s residential property outlook projects a robust 10.9% increase in house prices for 2025, followed by an 8.9% rise in 2027. Units aren’t lagging behind, with anticipated growth of 7.8% this year and 4.9% next year. As of December 2024, Brisbane’s median home value stood at $1,036,323, marking a significant 1.6% jump in a single month and over 14% for the entire year, according to Cotality figures. This demonstrates a clear acceleration in the market’s upward trajectory.

The numbers predict Brisbane as the second-highest performer this year, with only Perth expected to see higher growth. (Supplied: KPMG)

The Driving Forces: Population Growth and Affordability

Dr. Brendan Rynne, KPMG’s chief economist, points to a surprising trend: growth didn’t moderate as expected due to affordability concerns. Instead, the latter half of 2024 saw an acceleration, particularly in Perth and Brisbane. This is largely attributed to the expanded 5% deposit scheme, allowing more first-time buyers to enter the market. However, a fundamental issue remains: supply isn’t keeping pace with demand. South-East Queensland is experiencing significant population growth, with more people relocating to the region, further exacerbating the housing shortage.

The Role of Government Initiatives: A Balancing Act

The federal government’s 5% deposit scheme is under scrutiny, with some questioning whether it’s contributing to price increases. Treasurer Jim Chalmers defends the initiative, emphasizing its importance in helping first-time buyers enter the market. He also highlights the government’s broader efforts to increase housing supply, including the National Housing Accord, which aims to deliver 1.2 million new homes by mid-2029. However, critics argue that simply increasing demand without addressing supply constraints will only further inflate prices.

A man in a suit and tie stands in front of a sunset

Jim Chalmers has defended the federal government’s 5 per cent deposit scheme. (ABC News: Ian Cutmore)

Queensland’s Commitment to Supply: A Long-Term Vision

Queensland Premier David Crisafulli has stated the government is “hell-bent” on increasing housing supply. The state government has committed to building one million new homes, including 53,000 social and affordable homes, by 2044. This ambitious target reflects a recognition of the urgent need to address the housing shortage and improve affordability. However, achieving this goal will require significant investment, streamlined planning processes, and collaboration between government, developers, and the community.

Potential Risks and Challenges Ahead

The KPMG report identifies affordability constraints as the primary downside risk to its optimistic outlook. As prices continue to rise, it may become increasingly difficult for first-home buyers to enter the market, potentially dampening demand. Furthermore, any significant changes in interest rates or economic conditions could also impact the property market. External factors, such as global economic uncertainty and supply chain disruptions, could also pose challenges.

FAQ: Your Burning Questions Answered

  • Will Brisbane’s property market crash? While a crash is unlikely, a slowdown in growth is possible if affordability constraints worsen or economic conditions deteriorate.
  • Is now a good time to buy in Brisbane? That depends on your individual circumstances. However, with prices expected to continue rising, waiting could mean paying more.
  • What areas of Brisbane are expected to see the most growth? Suburbs with good infrastructure, schools, and proximity to employment hubs are likely to outperform the market.
  • How will interest rate changes affect the market? Higher interest rates typically cool down the market by increasing borrowing costs, while lower rates can stimulate demand.

Pro Tip: Consider engaging a qualified financial advisor and property expert to assess your individual situation and develop a tailored investment strategy.

The Brisbane property market is currently experiencing a period of strong growth, driven by population increases, government initiatives, and a persistent supply shortage. While challenges remain, the outlook for 2025 and beyond appears positive. Staying informed and seeking professional advice will be crucial for navigating this dynamic market.

Want to learn more about the Queensland property market? Visit the Real Estate Institute of Queensland (REIQ) website for the latest data and insights. Share your thoughts in the comments below – what are your predictions for the Brisbane property market?

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Tech

Living in student accommodation? Helpful tips on staying healthy and preventing pests 

by Chief Editor
written by Chief Editor

Back to Campus, Back to Bugs & Germs: The Future of Student Health & Hygiene

The return to college after winter break always brings a spike in colds, flu, and unfortunately, unwelcome houseguests of the pest variety. But the challenges facing students in shared accommodation aren’t static. We’re seeing a shift in both the types of illnesses circulating and the ways pests are adapting, demanding a more proactive and tech-savvy approach to hygiene.

The Evolving Threat of Student Illnesses

For years, the focus has been on handwashing and surface disinfection – and those remain crucial. However, the pandemic highlighted the limitations of these measures against airborne viruses. Expect to see a greater emphasis on ventilation and air purification in student housing. Universities are beginning to invest in HEPA filters for common areas, and portable air purifiers are becoming increasingly common student purchases. A recent study by the EPA showed a direct correlation between improved ventilation and reduced illness rates in schools, a trend likely to extend to university housing.

Beyond COVID-19, we’re also observing a rise in antibiotic-resistant strains of common illnesses. This means simple infections can become harder to treat. This will likely lead to increased health screenings upon return to campus and a stronger push for students to stay up-to-date on vaccinations, including flu and RSV.

Pro Tip: Don’t rely solely on hand sanitizer. While convenient, it’s less effective than thorough handwashing with soap and water, especially when hands are visibly dirty.

Pest Control Gets Smarter: Beyond Bed Bugs & Silverfish

Bed bugs and silverfish remain persistent problems, as Rentokil Initial rightly points out. However, the pest landscape is evolving. Climate change is expanding the range of certain pests, and increased global travel is introducing new species. We’re starting to see more reports of cockroaches, even in traditionally colder climates, and an uptick in sightings of clothes moths, fueled by fast fashion and increased textile storage in cramped quarters.

The future of pest control in student housing will rely heavily on technology. Expect to see:

  • Smart Sensors: These devices can detect early signs of pest activity (e.g., vibrations, pheromones) and alert property managers before infestations become widespread.
  • Drone Inspections: For larger complexes, drones equipped with thermal cameras can identify potential pest hotspots in hard-to-reach areas.
  • AI-Powered Pest Identification: Apps that allow students to photograph a suspected pest and receive an instant identification and recommended treatment plan.

A case study from the University of California, Berkeley, demonstrated a 30% reduction in pest complaints after implementing a smart sensor system in their student dormitories.

The Rise of “Hygiene Tech” for Students

Students are increasingly embracing technology to manage their personal hygiene and health. Beyond air purifiers, we’re seeing:

  • UV-C Sanitizing Devices: Portable wands and boxes that use ultraviolet light to disinfect surfaces and personal items.
  • Smart Water Bottles: These bottles track hydration levels and remind users to drink water throughout the day, boosting immune function.
  • Wearable Health Trackers: Devices that monitor sleep, activity levels, and even stress, providing insights into overall health and well-being.

This trend is fueled by a generation that grew up with technology and is comfortable using it to manage all aspects of their lives.

The Role of University Responsibility & Student Education

While individual hygiene practices are vital, universities have a responsibility to create a healthy living environment. This includes investing in preventative measures, providing clear guidelines on hygiene and pest control, and responding promptly to student concerns. Educational campaigns focusing on responsible sharing of items, proper waste disposal, and early reporting of pest sightings are crucial.

Furthermore, universities are beginning to incorporate hygiene and wellness education into orientation programs, recognizing that a healthy student body is a more successful student body.

FAQ: Staying Healthy in Shared Accommodation

  • Q: How often should I disinfect shared surfaces?
    A: At least daily, and more frequently during peak illness season.
  • Q: What should I do if I suspect bed bugs?
    A: Report it to your housing authority immediately. Do not attempt to treat it yourself.
  • Q: Is it okay to share food and drinks with roommates?
    A: It’s best to avoid sharing, especially during cold and flu season.
  • Q: How can I improve ventilation in my room?
    A: Open windows when possible, and consider using a portable air purifier.
Did you know? Bed bugs can survive for months without feeding, making early detection even more critical.

Staying healthy and pest-free in shared student accommodation requires a multi-faceted approach. By embracing new technologies, prioritizing preventative measures, and fostering a culture of responsibility, students and universities can create a healthier and more comfortable living environment for all.

Want to learn more about creating a healthy living space? Explore our articles on dorm room organization and stress management.

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