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November 24, 2020

Houston’s Lack Of Affordable Housing Is Contributing To Its Unusually High Eviction Rate

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In the decade prior to the coronavirus pandemic, Houston’s Harris County reported one of the highest eviction rates in the country. Housing experts say the unusually high eviction rate is a reflection of just how little affordable housing there is across the metro.

The barriers to successfully building affordable housing are significant, and without major changes, the number of evictions will likely only increase, as more households succumb to financial distress caused by the pandemic.

A new federal administration in January, coupled with the Texas Legislature convening during the same month, may offer an opportunity for lawmakers to introduce measures that can help fund more affordable housing and create policies to address systemic problems that lead to evictions in the first place.

“Evictions cannot and should not be separated from the larger impact that they have on the evicted households, the broader housing system and society at large,” Rice University’s Kinder Institute for Urban Research Deputy Director Kyle Shelton said.

“The costs of stabilizing households, whether through rental assistance or other ways to alleviate debts/support households, will pale in comparison to the years of instability and economic impacts of not acting to support the households most in need of support.”

Houston’s Lack Of Affordable Housing Is Contributing To Its Unusually High Eviction Rate

Prior to the coronavirus pandemic, Harris County evicted more households than nearly any other U.S. city, ranked only behind New York City’s five counties combined, according to an analysis of Eviction Lab data by the Kinder Institute.Harris County evicted 17,749 households, or 48.49 families…

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Houston Apartment Rents Rose In Several Suburbs In October

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Average Houston apartment rents in October are lower than a year ago, but several suburban areas have seen year-over-year rent growth, according to the latest report from RENTCafé.Average monthly rent in Houston was $1,106 in October, 0.8% lower than a year prior. Though rent prices have decreased…

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This Week’s Houston Deal Sheet

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Houston-based American Liberty Hospitality will open the company’s second dual-branded hotel in February.

The combined Holiday Inn Express Houston – Galleria Area and Staybridge Suites Houston – Galleria Area will offer a total of 319 rooms and will be the first new hospitality offering in Houston’s Galleria area in several years. Both brands are franchises of InterContinental Hotels Group. The 14-story property is…

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Black Friday Just Part Of One Long, Weird Shopping Season This Year

The Black Friday of yore was already in flux before the coronavirus pandemic. As consumers shifted to online shopping, the enticement to stand in a line in the wee morning hours for a $99 flat-screen waned. Why go through all that when you can just stay home and shop online?

But while online shopping gradually reshaped Black Friday over the years, the coronavirus has rapidly changed what’s perhaps the central element of the day. 

“Black Friday was always about getting as many people in the stores as possible, but now it’s almost the opposite,” said Michael Baker, a retail analyst with D.A. Davidson Cos.

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CRE’s Next Generation: Built-ID’s Bridget Wilkins On Why Property Is Losing The Global War For Talent

 

This series asks rising stars in commercial real estate about their thoughts on some of the biggest issues facing the industry, including inequality, climate change and technology.

For Built-ID Director of Community Engagement Bridget Wilkins, the real estate sector faces a stark choice. Change, and change fast, or risk becoming irrelevant to the next generation of talented young workers.

“Many of us are driven primarily by a social purpose, and as a result, prioritise having a positive impact over other more traditional aspirations, like financial success and long-term job security,” she said when asked how her generation of property professionals differs from those that have gone before. “We are now competing in a global war for talent and unless CRE accelerates its focus on engaging and employing diverse people, rather than just meeting reporting targets, we will continue to lose brilliant, passionate people to competing industries.”

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