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Coping

Small steps you can take to control housing affordability squeeze


Small steps you can take to control housing affordability squeeze

There's no rent control in Ohio* so tenant choices are limited. 
  • Move to a cheaper property.  hereare some ideas to consider.
What are some long term solutions?
  • Preserve existing affordable housing.  Deteriorated units can be put back to work with some creative ownership and financing.
  • Build more affordable housing.  Big costal cities are embarking upon affordable housing strategies...in Ohio, not so much. National apartment occupancy in May soared to the highest level in at least six years, even as new units are being built. http://realestate.msn.com/blogs/post--apartments-fill-as-rental-demand-keeps-on-surging (alert: pop up audio)
  • Build more rental housing.  Developers who see a new market for new rental housing are not waiting for government to plan for them...eventually more units will reduce rents across the board according to the laws of supply and demand.
  • Unfreeze the homebuying market.  Right now there is still an overhang of "underwater" houses and a lack of buyers who can meet new standards for getting a mortgage.  Unwinding this imbalance must continue.
  • Increase household incomes.  Steps like raising the minimum wage will help households cope with shelter cost increases.
 
RHINO "Coping" poll results

8 RHINO members responded to our poll on coping with rent increases (some had more than one response)

strategy

number

percentage

found a new or additional job or more work hours

1

9.09%

stopped saving for retirement

2

18.18%

increased credit card debt balance

2

18.18%

cut back on medicine or health care

1

9.09%

cut back on food, eating out, lower cost choices

3

27.27%

moved to a cheaper property

2

18.18%

reduced transportation costs to work, shopping, day care or relatives


0.00%

total responses

11


Your best recommendation
"Plan your work, and work your plan", by committing to a good budget.
Look for a second job
advocate for rent control
Simple. We need affordable housing in the "safer" areas in Richland County. Perhaps in outlying townships such as Mifflin, Madison, and Springfield.
Thanks to all who participated.


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