times take on affordable housing lacks evidence, balance

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times take on affordable housing lacks evidence, balance

It’s important to address some of the claims and assumptions made in Ms. Lisa Prevost’s recent piece in the NY Times, Town After Town, Residents Are Fighting Affordable Housing in Connecticut.

The piece spurred a lot of discussion in many towns in the Nutmeg State and as an elected zoning commissioner in the Town of Fairfield and long-time neighborhood and environmental advocate, I’d like to set the record straight on 8-30g, Connecticut’s affordable housing law which allows developers to override local zoning regulations.

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here’s where the wealthiest connecticut residents moved in the pandemic

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here’s where the wealthiest connecticut residents moved in the pandemic

In Connecticut, the wealthiest movers on average came from Fairfield County and moved to Palm Beach County, Fla. Palm Beach County is home to popular coastal cities like Palm Beach, West Palm Beach and Boca Raton. The data showed that 418 different families totaling 778 people filed their 2019 taxes in Fairfield County and their 2020 taxes in Palm Beach County. That means over $327 million in income moved from Connecticut down to Florida, making the average income per person just over $421,000.

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what’s up with the crazy housing market?

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what’s up with the crazy housing market?

It’s still a seller’s market, whether it feels that way or not.

In May, the median price of a home in the United States passed $400,000 for the first time, according to the National Association of Realtors. And bidding wars accounted for 55 percent of home sales in the four week period ending June 19, up from 53 a year earlier, according to Redfin.

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the odds of a home price correction just spiked—this interactive chart shows if your local housing market is at risk

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the odds of a home price correction just spiked—this interactive chart shows if your local housing market is at risk

We're already seeing the U.S. housing market slow down in the face of spiking mortgage rates. Mortgage applications are declining, fewer listings are getting multiple offers, and inventory levels are rising again. However, that's a deceleration—meaning prices are going up at a more modest rate—not a price correction.

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chappaqua, N.Y.: a westchester hamlet that’s ‘not cookie-cutter’

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chappaqua, N.Y.: a westchester hamlet that’s ‘not cookie-cutter’

Tara Watnik knew that she and her family would leave their Bronx co-op for a house in Westchester — eventually. But her husband, Scott Watnik, a partner in a Manhattan law firm, grew up in Riverdale, and they liked living in his childhood neighborhood, which was close to her job as a communications director at a private school and an easy commute for him. Then Covid hit, and they decided it was time to get serious about moving.

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something has to give in the housing market. or does it?

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something has to give in the housing market. or does it?

Two years into the pandemic, rundown bungalows command bidding wars, buyers keep snatching up places they’ve never seen, and homebuilders can’t find enough cabinet doors for everyone who wants a new home. The median price for an American home is up nearly 20 percent in a year. The for-sale inventory is at a new low. And the hopeful buyers left on the sidelines have helped drive up rents instead.

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deep dive: where things stand now for real estate in connecticut heading into 2022

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deep dive: where things stand now for real estate in connecticut heading into 2022

"Real estate prices climbed across the country up 20% year over year but especially in some markets," says Caleb Silver with Investopedia. "In Connecticut, we saw Litchfield County up at 20.8% just above the national average but as you go down state, New Haven up 17.8%, Fairfield 16.4% and Hartford only up 15.5% year over year."

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westchester housing market ‘starved for inventory’ means ‘intense competition’ to buy single-family homes

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westchester housing market ‘starved for inventory’ means ‘intense competition’ to buy single-family homes

Low inventory plus high demand equals a difficult time for homebuyers, unless they have very deep pockets, CBS2’s Tony Aiello reported Friday.

“For Sale” signs are few and far between in Westchester County. Just about 700 single-family homes were listed in the 4th quarter of 2021. That’s down 45% from 2020.

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here's where denver ranks among 2022's forecasted hottest housing markets

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here's where denver ranks among 2022's forecasted hottest housing markets

Despite a serious lack of inventory and a blistering sales pace, Denver doesn't rank anywhere close to the top of a recent Realtor.com forecast of the hottest real estate markets of 2022.

The Denver metro comes in at number 48 out of the nation's top 100 metros in terms of the predicted change in price and number of sales for next year – that's an 11% total increase, 6% for number of sales and 5% for home prices.

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NY regional closed median home price for november 0.9% lower than in october

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NY regional closed median home price for november 0.9% lower than in october

OneKey MLS, reporting detailed, month-over-month statistical information about residential, condo, and co-op sales transactions in the regional MLS coverage area, finds that the closed median sale price in November 2021 was less than it was in October 2021.

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