Owning land is the primary source of wealth-building for American households. When the Federal Housing Authority (FHA) poured investments into suburban development and homeownership campaigns in the mid-20th century, homeownership was extended to middle-class working families and became accessible to more households than ever before. In recent years, however, median sale prices have far outpaced the average household’s ability to attain homeownership, making it unlikely for prospective first-time homebuyers to find a starter home they can afford. According to a recent study, one in four single-family homes in America are now being purchased as investments and rented to tenants; these homes are unlikely to return to the market as opportunities for homeownership in future. With the increase in demand for rentals, rents are skyrocketing.
Data show that the housing crisis in the Hudson Valley is more acute than many other areas in the United States. Housing access shortages caused by underproduction, corporatization of housing, dilapidation of stock, and poor regulation are causing severe affordability issues for the gamut of households across income levels, with especially detrimental effects on low-income working families who can no longer find an affordable place to live, many of whom are finding themselves homeless for the first time. Furthermore, although there have always been competing uses of land, competing uses are coming to a head with a housing crisis, climate change, habitat loss, the need to build out renewable energy infrastructure. Our system for allocating, buying, selling, and valuing land needs to respond to these pressing challenges.
Pattern for Progress (PFP) in collaboration with the Hudson Gateway Association of Realtors (HGAR) will host a regional conference to unpack these challenges and how they uniquely impact the Hudson Valley region. Our three speakers will help us unpack the questions:
- Is affordable housing a real possibility? How can we reconcile between “housing as a vehicle for wealth-building” and “housing as stable and affordable shelter?”
- What does “equity” look like if some people have access to land ownership while others do not, and probably never will? How can we create a more equitable system that allows more people to own a piece of their communities through homeownership and land stewardship?
- How can we reframe the way that we think about land? Land is a limited resource that we need for food, energy, housing, gathering spaces, and more. How can we better manage land in a way that meets our collective societal needs?
Through a series of keynote sessions and small group work, this conference will offer concrete solutions, tools for our local governments, developers, and funders to pursue, and policies we can all advocate for vis-à-vis municipal and state legislators.
Session 1: FRAMING THE DEBATE FOR AND AGAINST PERMANENT AFFORDABILITY
Miriam Axel-Lute, Shelterforce
Miriam's Slides and pre-event notes
In this first session, Miriam will frame the debate for and against permanent affordability by exploring all angles and perspectives. Advocates for permanent affordability say that perpetually affordable rentals and limited equity homeownership are the only plausible response to skyrocketing housing costs. Opponents note that American families rely on appreciating land values as their best shot at building generational wealth. Advocates also say that offering subsidies like LIHTC or homeownership subsidies without permanent affordability requirements is an ineffective way to spend public dollars; the response to this is often a disbelief that development will happen without private investment driven by the promise of profit. Miriam’s presentation will help participants understand these dilemmas as a lens to assess the efficacy of policies and development tools that shape our housing ecosystem.
Miriam’s Presentation can be found here.
Session 2: TOOLS THAT HELP OR HINDER ACCESS AND AFFORDABILITY
George W. “Mac” McCarthy, Lincoln Land Institute
Mac's Slides and pre-event notes
In this second session, Mac will offer a roadmap to affordability by unpacking different policies and tools, how they work, and their impacts. To achieve a more equitable and accessible housing market, we need all-hands-on-deck: local municipalities, state government, developers, community land trusts, funders, and everyone in between. Topics will include: government funding and incentives; short term rentals; corporate ownership; equitable property taxation; and more.
Mac’s Presentation can be found here.
Session 3: HOW DID WE GET HERE? WHERE ARE WE GOING?
Hadrien Coumans, Lenape Center
Hadrien's Slides and pre-event notes
In the United States, we think about land differently than the people who were here before the arrival of Europeans. As we explore the practical and policy questions throughout the morning, this lunchtime session with Hadrien from the Lenape Center will give attendees an opportunity to reflect on Lenape cultural relationship to Haki (Earth) and Lenapehoking (Lenape Territory). Hadrien will share insights about how cultural beliefs and relationships with land can inform the policies that govern us and shape our economic environment. Hadrien’s presentation will aim to inspire participants to examine their own relationships to land, consider the differences between land ownership and land stewardship, and reimagine housing policies and programs in a way that can deepen our relationships to land, home, and each other.
Hadrien’s Presentation can be found here.
With special support from
Thank you to our Housing Investors and Sponsors:
