On Thursday, Gov. Larry Hogan’s administration announced financing to help developers build hundreds of low-income apartments in Baltimore suburbs that have traditionally resisted housing the poor.
Tag: affordable housing
Downtown Baltimore gained a new affordable housing development today when Mayor Catherine Pugh and others cut the ribbon on the Mulberry at Park Apartments, a $22.3 million, 68-unit project in the Bromo Tower Arts and Entertainment District.
A little over a year ago, a real estate mogul and a retired Johns Hopkins neurosurgeon with zero combined years of experience in office were sitting neck-and-neck atop Republican primary polls. Today, one of those men, Donald Trump, is starting to set up shop in the Oval Office and has picked the other, Ben Carson, to lead our nation’s housing department.
Welcome to City-Zen: Real Conversations with Real Baltimoreans, a question and answer series with locals sharing their thoughts on issues that are top-of-mind to many. Whether just starting out, raising a family, struggling to get by, or at the top of your game, we all have something in common. It’s easier to communicate once we understand the perspective of others.
Be glad you don’t live in San Francisco or Brooklyn. Recent real estate number-crunching revealed that Brooklyn is the least affordable housing market in the country, with residents earning median income needing to devote 98 percent (!!) of their income to afford mortgage payments on a median-priced home. That doesn’t leave much left over for groceries or, well, anything else.
Affordable housing isn’t just good for cities, new research from Johns Hopkins says–it’s also good for children’s brains. According to Sandra Newman, a professor of policy studies, families that spend more than 50% of their income on housing, children’s cognitive ability shows a decline. The same is true when housing accounts for less than 20%. The sweet spot? “Families spending about 30 percent of their income on housing had children with the best cognitive outcomes,” Newman told the Hopkins Hub.