Law Commons^™

Shelter Poverty: The Chronic Crisis Of Housing Affordability, Michael E. Stone

Michael E. Stone

This paper examines housing affordability in the United States over the past three decades using the author’s concept of “shelter poverty.” The major findings are as follows: The number of shelter-poor households has been over 30 million since the early 1990s, an increase of more than 70 percent since 1970. Among families with children, rates of shelter poverty are much higher, and over the past several decades have risen faster, than among households with just one or two persons. Nearly half of all renter households are shelter-poor, victims of low incomes and rising rents; most low-income renters are headed by …

From Trespasser To Homeowner: The Case Against Adverse Possession In The Post-Crash World, Kristine S. Cherek

Kristine S Cherek

Since the financial crisis began in September of 2008, there have been approximately 3.7 million completed foreclosures in the United States, and approximately 1.4 million additional homes are currently in some stage of the foreclosure process. In the midst of this post-housing crash world, the centuries-old doctrine of adverse possession is gaining new attention. This Article examines the doctrine of adverse possession as it may be used, and as it is currently being used, with respect to residential properties that stand vacant as a result of foreclosure actions. As adverse possession is currently construed in a majority of states, a …

How Government Guarantees In Housing Finance Promote Stability, David Min

David Min

In the aftermath of the financial crisis, major reforms of the U.S. housing finance system are likely. One of the key issues facing policy makers in this area is whether and to what extent the federal government should maintain its current role in the residential mortgage markets. Since the New Deal, the federal government has guaranteed the primary sources of housing finance in the United States—bank and thrift deposits, and the obligations of the mortgage securitization conduits Fannie Mae, Freddie Mac, and Ginnie Mae.

The prevailing view of government guarantees is that they increase financial instability because they encourage excessive …

How Government Guarantees In Housing Finance Promote Stability, David Min

David Min

In the aftermath of the financial crisis, major reforms of the U.S. housing finance system are likely. One of the key issues facing policy makers in this area is whether and to what extent the federal government should maintain its current role in the residential mortgage markets. Since the New Deal, the federal government has guaranteed the primary sources of housing finance in the United States—bank and thrift deposits, and the obligations of the mortgage securitization conduits Fannie Mae, Freddie Mac, and Ginnie Mae.

The prevailing view of government guarantees is that they increase financial instability because they encourage excessive …

Adr’S Place In Foreclosure: Remedying The Flaws Of A Securitized Housing Market, Lydia Nussbaum

Lydia R. Nussbaum

Millions of Americans lost their homes during the foreclosure crisis, an unprecedented disaster still plaguing local and national economies. A primary factor contributing to the crisis has been the failure of conventional foreclosure procedures to account for the new realities of securitization and the secondary mortgage market, which transformed the traditional borrower-lender relationship. To compensate for the shortcomings of conventional foreclosure procedures and stem the tide of residential foreclosure, state and local governments turned to ADR processes for a solution. Some foreclosure ADR programs, however, have greater potential to avoid unnecessary foreclosures than others. This article comprehensively examines the key …

Affordable Housing: Update On Federal And State Activities, Patricia E. Salkin

Patricia E. Salkin

No abstract provided.

The Fair Housing Act, Zoning, And Affordable Housing, Patricia E. Salkin, John M. Armentano

Patricia E. Salkin

No abstract provided.

Can You Hear Me Up There? Giving Voice To Local Communities Imperative For Achieving Sustainability, Patricia E. Salkin

Patricia E. Salkin

Sustainable development is an international challenge that demands attention at all levels of government. The calls to action to achieve sustainability have varied over the last few decades. For example, in the 1970s and 1980s attention was focused on the need for environmental review and growth management strategies. In the 1990s the rhetoric shifted to smart growth and livable communities, and today, the issue has been reframed as advocates view sustainability through the lens of global warming and climate change. Regardless of the nomenclature, however, the end game is the same. While the United States as a whole speaks through …

The Role Of The Law In The Availability Of Public Transit And Affordable Housing In Atlanta’S West End, Elliott Lipinsky

ELLIOTT LIPINSKY

Single family home prices in West End will remain below $250,000 on average due to the generous grants and investment incentives provided by the City of Atlanta and the State of Georgia. Atlanta wants to create affordable, well-designed urban housing. This housing will provide anyone in Atlanta an affordable place to live. The West End is the perfect example of the City’s attempts to create such an environment. Furthermore, the Sky Lofts of West End offer brand new affordable housing in the West End through developer grants, tax abatements, and down payment loans. These government-created incentives have provided affordable housing …

Unaffordable “Affordable” Housing: Challenging The U.S. Department Of Housing And Urban Development Area Median Income, Michael E. Stone

Michael E. Stone

There is no such thing as “affordable” housing. Affordability is not a characteristic of housing: It is a relationship between housing and people. For some people, all housing is affordable, no matter how expensive. For others, no housing is affordable, no matter how cheap.

Non-Recourse Mortages – A Fresh Start, Ron Harris, Asher Meir

Ron Harris

In about a quarter of US states, all residential mortgages are essentially non-recourse, meaning that in case of default, the lender can only repossess the house but cannot collect on the private assets and future income of the borrower. This American innovation is now beginning to attract extensive interest abroad, but ironically in the US itself is getting a bad name. The law has been blamed for exacerbating the financial crisis, while stricken homeowners who take advantage of it have been scolded by lenders and even by the Secretary of the Treasury. We propose a fresh and more balanced look …

Housing 101, Tim Iglesias

Tim Iglesias

This presentation is a primer on how housing (particularly affordable housing) is developed and the challenges it faces.

Socio-Economic Effects Of Demolishing Squatter Settlements And Illegal Structures In Abuja Metropolis, Federal Capital Territory, Nigeria, Ishaku Iy Mallo Phd, Victor G. Obasanya

Confluence Journal Environmental Studies (CJES), Kogi State University, Nigeria

Abuja the Federal Capital Territory and study area is located between latitudes 8o25’ and 9o25’ North of the Equator and longitudes 6o45’ and 7o45’ East of the Greenwich Meridian. The study was carried out in Abuja Phase 1, and it is aimed at highlighting various socioeconomic effects of demolition of illegal structures and informal or squatter settlements on the people within the study area. Data was collected through reconnaissance survey, personal interviews with respondents, and a well laid out questionnaire. The results indicate that the demolition exercise embarked upon by the authorities in the Federal Capital Territory was a response …

The Role Of The Law In The Availability Of Public Transit And Affordable Housing In Atlanta’S West End, Elliott Lipinsky

ELLIOTT LIPINSKY

The Federal Transit Administration (FTA) is a branch of the U.S. Department of Transportation that administers federal funds and provides technical assistance for the support of locally operated public transit systems. MARTA / Atlanta metro area are part of FTA Region IV (the Southeast). FTA would be involved, for instance, in financing the federal grant monies discussed above. But actual regulation of operations (i.e., what MARTA does each day, or what MARTA will plan to do regionally) is more closely regulated by Georgia agencies.

Until recently, the Atlanta metropolitan area had no powerful central agency to coordinate regional transit. The …

Book Review: Edward L. Glaeser, Triumph Of The City: How Our Greatest Invention Makes Us Richer, Smarter, Greener, Healthier, And Happier (The Penguin Press 2011), David J. Reiss

David J Reiss

It is always a bit unnerving to read someone else’s love letters, but even more so, when you have the same object of desire. Edward Glaeser’s TRIUMPH OF THE CITY is a love letter to cities and to New York City in particular. Glaeser provides a theoertical framework of the city, arguing that “Cities are the absence of physical space between people and companies. They are proximity, density, closeness.”

Glaeser prescribes three simple rules to protect the vitality of the urban environment: First, cities should replace the current lengthy and uncertain permitting process with a simple system of fees. Second, …

Three Principles For Federal Housing Policy, David J. Reiss

David J Reiss

Isolating first principles of housing policy helps identify what is intrinsic to that field. Once done, we can clearly analyze potential policy choices for housing specifically, as opposed to how they may contribute to some larger goal of social policy. Imposing some analytic structure here is of key importance because federal housing policy is a morass of programs and policies. This exercise should help to ensure that monies spent to increase the supply and quality of housing are used efficiently. I argue that the three first principles that inform federal housing policy are (i) allowing all Americans to live in …

Conceptual Objections To Taxing Resale Of Residential Property Under A Vat, Wei Cui

Wei Cui

The “pre-collection” of tax on consumption benefits generated by durable assets such as housing plays a crucial role in both consumption tax theory and real-world tax regimes. However, even under current VAT systems with the widest tax bases, the taxation of imputed housing consumption is incomplete because pre-existing housing stock is typically not taxed when the VAT is introduced, and because housing value may appreciate after initial sale. In response, some have recommended taxing residential re-sale in order to capture previously untaxed consumption value. Such proposals have been critically examined in terms of their consistency with traditional VAT doctrines, but …

Moving Beyond Two-Person-Per-Bedroom: Revitalizing Application Of The Federal Fair Housing Act To Private Residential Occupancy Standards, Tim Iglesias

Tim Iglesias

Moving Beyond the Two-Person-Per-Bedroom Standard: Revitalizing Application of the Federal Fair Housing Act to Private Residential Occupancy Standards

Tim Iglesias

Abstract

New empirical evidence demonstrates that the common residential occupancy standard of two-persons-per-bedroom substantially limits the housing choices of many thousands of families, especially Latinos, Asians and extended families. The federal Fair Housing Act makes overly restrictive policies illegal, but the enforcement practices of the U.S. Department of Housing and Urban Development (HUD) have enabled the two-persons-per-bedroom standard to become de facto law. This article urges HUD to use its regulatory authority to remedy the situation and offers several solutions. …