Nvidia's Plan to Dominate the World of Robotics ...

Robots just had a coming-out party in Las Vegas. From household helpers to rescue bots, they're now essential-not just novelties. Forbes says it's a $24T opportunity. And Nvidia's CEO says one $7 stock is key to building the world's first trillion-dollar robot.

LOCALIZE IT: Affordable housing is disappearing, states scramble to catch up

LINDSAY WHITEHURST
October 10, 2024

EDITORS/NEWS DIRECTORS:

While Americans continue to struggle under high rents, as many as 223,000 affordable housing units could disappear across the country in the next five years alone.

Those units were built with the federal Low-Income Housing Tax Credit, which gives developers tax credits in exchange for keeping rents low. It has pumped out 3.6 million units since 1986, has enjoyed bipartisan support, and is now central to presidential candidate Kamala Harris' housing plan.

The catch?

The buildings typically only need to be kept affordable for a minimum of 30 years. For the wave of construction in the 1990s, those deadlines are arriving now, threatening to hemorrhage affordable housing when Americans need it most.

Some states are trying to stop the leakage, including with local governments or nonprofits buying the buildings to keep them affordable. But the solutions aren't airtight, leaving some renters facing huge rent increases and eviction.

___

READ AP'S STORY

As affordable housing disappears, states scramble to shore up the losses

Takeaways from AP's report on affordable housing disappearing across the U.S.

___

LIHTC AFFORDABLE HOUSING IN YOUR STATE

Nationally, data on LIHTC units that will lose their affordability remains a rough estimate. The best nationwide analysis estimated that by 2030 roughly 350,000 LIHTC units are at risk of losing affordability, according to the National Housing Preservation Database or NHPD.

There are state level reports available from NHPD and their national dataset can be broken down by state or city. The dataset isn't public, but the organization that runs it, Public and Affordable Housing Research Corporation, accepts requests and typically grants journalists access.

The data from NHPD, while the most accessible and accurate nationally, is a rough, upper-bound estimate, meaning it's the maximum number of units that are at risk of expiring. It's crucial to speak with NHPD see where their biggest data gaps are because they may be in your state.

For the most accurate data on when LIHTC units are expiring in your state, ask your state's housing finance agency. (They may redirect you to another housing arm, but it's a good place to start). Statewide or citywide housing nonprofits may also have a good grasp of the issue.

It's important to discuss with your state housing agency the accuracy of their data. Below is a roadmap of the data pitfalls.

GOING DEEPER: The data dilemma

There's dearth of accurate data for a few reasons:

1. While LIHTC is a federal program, it's administered by states and no federal agency aggregates national, accurate and updated data on LIHTC units.

1. The U.S. Department of Housing and Urban Development has a national data set, but it is wildly inaccurate for quantifying unit expirations and doesn't account for any of the caveats below.

2. State's have made their own rules around LIHTC units. Some have extended the 30 year federal minimum affordability period. California's is 55 years, for example.

3. The LIHTC tax credits are distributed through an application process, and certain states assign more points to applications that promise to extend their affordability period beyond 30 years. That information is held at the contract level, and states may or may not aggregate that into their data set.

1. Some of these contracts are from the 1990s in paper form, making it difficult for states to digitize and aggregate them.

2. While a LIHTC property might be losing it's affordability requirement, there may be other municipal, state or federal subsidies applied to the property that extend the affordability period beyond LIHTC's expiration. This is the hardest data point to factor for, and would require assessing a constellation of different programs.

___

CONSIDER THESE REPORTING THREADS

1. How many LIHTC affordable housing units are in your state? How many are set to expire in the next five or ten years?

1. What percentage of the states affordable housing stock is that?

2. Does a dearth of data in your state impede lawmakers and activists ability to stop LIHTC units from losing their affordability?

3. What are the strategies that your state or city has put in place to keep the buildings affordable?

1. Does your state have a right of first refusal for local governments to purchase expiring LIHTC properties and keep them affordable? Can the state or city show that this has been a success?

2. Does your state require that the landlord provide notice to tenants and government agencies that the unit is expiring?

3. Does your state prioritize expiring developments for new tax credits that would extend the affordability period? Can the state show they've done this successfully?

4. How many expired LIHTC units has your state or city been able to keep affordable?

5. Has your state passed a law to extend LIHTC affordability periods past 30 years? If not, why?

6. Housing and tenant rights groups can help you zero in on properties that have or are expiring and speak to the residents.

___

READ ADDITIONAL AP COVERAGE

Why are so many voters frustrated by the US economy? It's home prices

A record number of Americans can't afford their rent. Lawmakers are scrambling to help

To stem the housing crisis, religious congregations are building homes

AP's Affordable Housing Hub

___

EMBED THIS CHART

This AP digital embed chart shows the estimated number of rental homes nationally at risk of losing affordability restrictions in the coming years. This chart is current as of Oct. 1, 2024, and will not update. Source: Public and Affordable Housing Research Corporation.

Click for a preview.

To embed, insert this code into your CMS:

!-- start AP embed --

iframe title="Expiring tax credit may roil rental market" aria-label="Interactive line chart" id="ap-chart-uBFL8" src="https://interactives.ap.org/embeds/uBFL8/7/" scrolling="no" width="100%" style="border:none" height="562?/iframescript type="text/javascript"!function()("use strict";window.addEventListener("message",(function(e)(if(void 0!==e.data("datawrapper-height"))(var t=document.querySelectorAll("iframe");for(var a in e.data("datawrapper-height"))for(var r=0;rt.length;r++)(if(t(r).contentWindow===e.source)t(r).style.height=e.data("datawrapper-height")(a)+"px"))))))();/script

!-- end AP embed --

Click for more digital embed content on AP Newsroom.

___

Localize It is a resource produced regularly by The Associated Press for its customers' use. Questions can be directed to Katie Oyan at koyan@ap.org.

Continue Reading...

Popular

Mark Cuban Reacts to Elon Musk-Donald Trump Feud

The escalating public feud between Elon Musk and President Trump has prompted a response from Mark Cuban.

Why This Stock Tripled In The Last 3 Months

Investors have gobbled up this transformation story. The company's shares have tripled over the last three months.

Exposed: 3 Cent Crypto to Explode June 24th? - Ad

Chris Rowe, the man who spotted 44 different coins that have returned over 100%, is now making the biggest crypto call of his ENTIRE career.... Because a powerful crypto event will trigger on June 24th... Sending hundreds of tiny cryptos soaring 5X, 50X, even 100X -- in just days.

The election of a Trump ally in Poland could alter EU and Ukraine policies

WARSAW, Poland (AP) — Poland has elected , a conservative historian and staunch nationalist, as its next president in a closely watched in the heart of Europe.

Why BlackRock is Hoarding 6X More Bitcoin Than Miners Produce - Ad

A Bitcoin supply shock is building. Institutions and ETFs are buying faster than miners can keep up - creating a shortage most investors haven't noticed. If Bitcoin hits $300K, altcoins could explode 1,000%+. We wrote Crypto Revolution to help you prepare.

Warren Buffett Makes Over $2.2 Million A Day From This Stock

Warren Buffett's Berkshire Hathaway is set to earn $816 million in Coca-Cola dividends in 2025.

Wall Street's Top Insiders Just Made Their Biggest Tesla Bet Yet - Ad

Elon Musk could soon trigger a $34 trillion wealth shift - and two top analysts say Tesla could 2X to 10X in a year. But while all eyes are on Tesla, four overlooked stocks could soar even higher. Learn how t get the full details, tickers, and free report before the Austin launch goes live.

Cathie Wood Dumps Another $5.2 Million Of Palantir Stock Amid Trump Administration-Linked Surveillance Controversy

On Wednesday, Cathie Wood's Ark Invest sold 40,035 shares of Palantir Technologies Inc, amidst controversy. They bought shares of Guardant Health Inc and Veracyte Inc.

Goldman Sachs Bullish On Branded Drug Upside At Teva: What About Viatris?

Goldman Sachs initiates Teva, Viatris, and Amneal, highlighting branded growth and pipeline strength, but one company's unclear outlook.

Former Zillow Execs Target $1.3T Market - Ad

One co-founded Zillow. The other sold his company to Zillow for $120M. Now they're transforming a $1.3T market via co-ownership. Pacaso's already earned $110M+ in gross profit and reserved the Nasdaq ticker PCSO.

How To Earn $500 A Month From Broadcom Stock Ahead Of Q2 Earnings

Broadcom offers an annual dividend yield of 0.90% ($2.36 a year). To figure out how to earn $500 monthly, here's what you do.

How high will Bitcoin go in 2025? - Ad

A new coin is emerging in the crypto bull market. Investing now could be like buying Bitcoin in 2013. Before it took off. Or scooping up Ethereum in 2017.. before it soared.

Elon Musk Recently Said 'Yes' To Impeaching Trump And The Odds Of That Happening In 2025 Rose On This Crypto Betting Market

The odds that President Donald Trump would be impeached this year saw a spike on Polymarket after tech mogul Elon Musk backed a call to remove him from office. 

Is Elon's Empire Crumbling? - Ad

Jeff Brown - the legend who called Tesla and Nvidia early - says Elon is about to launch a $25T AI revolution. This isn't another chatbot. It's real-world AI that could 14X the impact of ChatGPT. But after July 23rd, it may be too late.

Walz: Minnesota Lawmaker and Spouse Killed In 'Politically Motivated Assassination'

Minnesota Gov. Tim Walz (D) said Saturday morning that a Democratic state legislator and her husband were killed, and another lawmaker and his wife injured, in separate "targeted shootings" at their homes.

Weiss Gold Veteran Makes Shocking New Call - Ad

Weiss expert Sean Brodrick went out on a limb last year and declared a historic event would send the yellow metal to $3,150. People laughed at him at the time, but he was off by just two days. Now, Sean has a shocking new prediction for gold ... and reveals a little-known way to get ahead of this bull market.

ABC's Terry Moran is suspended following his social media post calling Trump and Miller haters

NEW YORK (AP) — ABC News has suspended correspondent Terry Moran for calling Trump administration deputy chief of staff a “world class hater” in a since-deleted social media post.

A Better Hedge Than Gold? - Ad

While the whole world is piling into gold as a hedge... White House documents reveal Trump is betting big on a completely under-the-radar resource. This little-known resource is minting 1,600 millionaires every single day... And investors have a rare opportunity to take advantage before everyone else catches on.

Asian shares shoot higher as US stocks inch toward their records

Shares advanced Wednesday in Asia after U.S. stocks drifted closer to their records, while U.S. futures edged lower.

The Father-Son Duo Revolutionizing Homebuilding - Ad

Paolo and Galiano Tiramani founded BOXABL with a disruptive idea: bring factory efficiency to homebuilding. Today, new homes can roll off their assembly lines in ~4 hours - with 700+ built already. Now, they're prepping for Phase 2, combining modules into larger homes and apartments.

Study finds little agreement between Republicans and Democrats on media sources they trust

A new survey that probes the level of trust Democrats and Republicans have for finds the business-oriented publications Forbes and The Wall Street Journal share an unusual distinction: They're the only two of 30 news sources that sympathizers for both parties told the Pew Research Center they're more likely to trust than distrust.

Tesla Stock Tumbles Nearly 3% In Pre-Market As Elon Musk Continues Intense Attack On Trump's 'Big, Beautiful Bill'

The ongoing public feud between Elon Musk and President Donald Trump has taken a toll on Tesla Inc (NASDAQ: TSLA) stock, which slumped following Musk's latest criticisms. On Thursday, the stock fell 1.8% during pre-market session.

Nvidia's Plan to Dominate the World of Robotics ... - Ad

Robots just had a coming-out party in Las Vegas. From household helpers to rescue bots, they're now essential-not just novelties. Forbes says it's a $24T opportunity. And Nvidia's CEO says one $7 stock is key to building the world's first trillion-dollar robot.

Apple Has Plummeted A Stunning 45% Vs. Mag 7 Since 2022

Apple's stock has fallen 45% since its 2022 peak, lagging behind other Big Tech peers due to tariffs, market weakness, and lackluster iPhone sales.

Exposed: 3 Cent Crypto to Explode June 24th? - Ad

Chris Rowe, the man who spotted 44 different coins that have returned over 100%, is now making the biggest crypto call of his ENTIRE career.... Because a powerful crypto event will trigger on June 24th... Sending hundreds of tiny cryptos soaring 5X, 50X, even 100X -- in just days.

Truck units of Toyota and Daimler reach merger deal, first announced two years ago

TOKYO (AP) — The truck divisions of Japan’s Toyota and Daimler of Germany have agreed to merge to form “a new strong Japanese truck powerhouse” to work together in vehicle development, procurement and production.

Why BlackRock is Hoarding 6X More Bitcoin Than Miners Produce - Ad

A Bitcoin supply shock is building. Institutions and ETFs are buying faster than miners can keep up - creating a shortage most investors haven't noticed. If Bitcoin hits $300K, altcoins could explode 1,000%+. We wrote Crypto Revolution to help you prepare.

Trump To Meet Japanese Prime Minister Shigeru Ishiba To Discuss Auto Tariffs At G7: Report

Trump to meet with Japan's PM Ishiba over auto tariffs amid industry uncertainty. Meeting crucial for Ishiba's domestic government.

Wall Street's Top Insiders Just Made Their Biggest Tesla Bet Yet - Ad

Elon Musk could soon trigger a $34 trillion wealth shift - and two top analysts say Tesla could 2X to 10X in a year. But while all eyes are on Tesla, four overlooked stocks could soar even higher. Learn how t get the full details, tickers, and free report before the Austin launch goes live.

Regional carrier Silver Airways says it's shutting down operations

HOLLYWOOD, Fla. (AP) — Regional carrier Silver Airways announced Wednesday it is shutting down operations after a failed attempt at restructuring through bankruptcy, leaving some passengers stranded at airports in Florida, the Bahamas and the Caribbean.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright smartmoneytrading.net
Privacy Policy | Terms of Service