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Yahoo
14-05-2025
- Business
- Yahoo
Detroit's next mayor can do these 3 things to support neighborhoods beyond downtown
Detroit stands at a pivotal moment. Mayor Mike Duggan is preparing to leave office after 11 years at the end of 2025. The city's next leader will inherit not only a revitalizing downtown but also neighborhoods like Belmont, Petosky-Otsego and Van Steuban that are grappling with housing instability and decades of neglect and disinvestment. My research on housing insecurity, homelessness and urban governance, along with broader scholarship on equitable development, suggests that Detroit's future depends on more than marquee developments like the Michigan Central Station Development. It depends on strengthening neighborhoods from the ground up. Here are three strategies that could help Detroit's next mayor build a just and resilient city by focusing on transitional neighborhoods: Stable housing is the foundation of thriving communities. Yet, housing instability in Detroit is both widespread and deeply entrenched. Before the pandemic, roughly 13% of Detroiters, or about 88,000 people, had been evicted or forced to move within the previous year. Families with children faced the highest risk. Many Detroiters had little choice but to remain in deteriorating housing, crowd into shared living arrangements or relocate elsewhere because of an estimated shortfall of 24,000 habitable housing units. While building more housing is essential, preventing displacement requires more than new construction. It also demands policies that preserve affordability and protect tenants. Researchers have found that household stabilization policies, such as legal representation in eviction court, rent control and property tax relief, have the most immediate impact. In Detroit, addressing the wave of expiring Low-Income Housing Tax Credit, or LIHTC, units remains an urgent priority. When units reach the end of their compliance period in this federal program, typically 15 years, owners are no longer required to maintain affordable rents and can raise prices. This 'conversion to market rate' often results in the loss of affordable housing for low-income residents. In response to a projected loss of 10,000 units by 2023, Detroit launched the Preservation Partnership that secured affordability commitments for about 4,000 units. However, it remains difficult to determine exactly how many of the at-risk units were ultimately lost, and when, due to reporting lags, inconsistencies and overlapping affordability programs. Despite the city's efforts, a 2023 analysis found that a substantial affordability gap persists, with many households unable to comfortably afford market-rate housing without spending more than 30% of their income, which is the standard set by the Department of Housing and Urban Development for affordability. The Michigan State Housing Development Authority continues to support affordable housing through tax credit allocations. However, a growing number of LIHTC properties in areas experiencing redevelopment are reaching the end of their affordability periods, putting them at risk of converting to market rate. National estimates suggest that nearly 350,000 units could lose affordability by 2030 and over 1 million by 2040 without sustained local and regional preservation efforts. Stabilizing Detroit's housing market means ensuring that those who stayed during the hardest times are not pushed out as reinvestment takes hold. To achieve this, the next mayor could expand rental assistance and support tenant organizing efforts. This is particularly needed in transitional neighborhoods where renters come together to fight unfair evictions, improve housing conditions and push for more stable rents. Many view Detroit's vast tracks of vacant land, estimated in the hundreds of thousands of parcels, as blight. But they could also be seen as a public asset and a generational opportunity if brought together with the right public strategies. Land trusts can turn empty lots into valuable neighborhood spaces. A land trust is a nonprofit that holds land for the community and keeps housing affordable over the long term, a key to preventing displacement. Research also shows that greening strategies can improve community health, cohesion and equity. Cities like Philadelphia and Cleveland have launched urban greening initiatives that transform vacant lots into community gardens, small parks and tree-filled spaces. Research shows that these projects can help stabilize property values and strengthen neighborhoods by reducing blight, encouraging investment and creating safer, more attractive environments. Detroit has a land bank, a public agency that manages vacant and foreclosed properties. The city has also invested in some green infrastructure. But experts say that these efforts require stronger city leadership, teamwork across departments and real input from residents. These are areas where Detroit still has room to grow. By collaborating with residents to cocreate a land use vision, the next mayor could prioritize community ownership and ecological restoration instead of speculative redevelopment. Neighborhood strength is about more than buildings — it's about people. As the Brookings Institution notes, economic opportunity is key to long-term safety, and investing in youth is a proven violence reduction strategy. Detroit's neighborhoods have long faced a lack of investment in schools, recreation centers and social services. This leaves families vulnerable and fuels cycles of poverty and criminalization. Under these conditions, young people, especially Black and brown youth, are more likely to be policed, punished and pushed into the criminal justice system. A 2021 study found that the Detroit Public Schools Community District reported 2% of its students experienced homelessness, despite 16% of households with children reporting recent eviction or forced moves. This gap reveals major service and awareness gaps. And when families fall through those gaps, it's often children who suffer the most. Addressing these gaps requires investing in mental health services, youth development programs and violence prevention, rather than relying solely on policing or incarceration. These approaches recognize that true public safety comes from access to stable jobs, quality education and supportive services that meet people's health, housing and social needs. Some of the most effective strategies include restorative justice in schools and outreach to older adults and residents experiencing homelessness. These are not luxuries. They are essential infrastructure for neighborhood vitality. Detroit is often held up as a cautionary tale of urban decline, or more recently, as a comeback story driven by downtown revitalization. But in my opinion, its true test lies in what comes next: whether the city can translate momentum into equity for the communities that have long been left behind. The next mayor has the chance to shift the narrative by centering housing justice, reclaiming land for public good and investing in the people who make Detroit a city worth fighting for. Read more of our stories about Detroit. This article is republished from The Conversation, a nonprofit, independent news organization bringing you facts and trustworthy analysis to help you make sense of our complex world. It was written by: Deyanira Nevárez Martínez, Michigan State University Read more: Detroit's lack of affordable housing pushes families to the edge - and children sometime pay the price Almost half of evicted women and families in metro Detroit say they were illegally pushed out of their homes Knocking down abandoned buildings has a lot of benefits for Detroit − but it's costly for cities Deyanira Nevárez Martínez is a trustee of the Lansing School District Board of Education and is currently a candidate for the Lansing City Council Ward 2.
Axios
22-04-2025
- Business
- Axios
Affordable housing complex opens on Michigan Avenue
New apartments opened west of Corktown Thursday with 40 units of affordable housing. Why it matters: Campbell Street Apartments are reserved for low-income households earning 30% of the area median income or less. What they're saying:"We continue to gain safe, affordable housing to retain our Detroiters and bring new ones in," Melia Howard, deputy mayor, said in a statement. State of play: MiSide Community Impact Network is the building's part-owner and developer. The project was completed with Low-Income Housing Tax Credits, $14.6 million in financing from the Michigan State Housing Development Authority and a $1 million grant from the state's Department of Environment, Great Lakes and Energy.
USA Today
02-04-2025
- Business
- USA Today
How single women are transforming the housing market: A first-time buyer's story
How single women are transforming the housing market: A first-time buyer's story Show Caption Hide Caption What are mortgage rates and how are they calculated? A Complete Guide The basics of mortgage rates: Key factors explained Before 1974, women couldn't secure a mortgage without a male co-signer. Single women accounted for 20% of all homebuyers nationally in 2024; single men accounted for 11%. Bria Myers, 27, described her experience as a first-time homebuyer as emotional but rewarding. Myers and other single women have made significant strides in the housing market, emerging as a growing segment of homebuyers and surpassing single men in homeownership rates. Before 1974, women couldn't secure a mortgage without a male co-signer. That was before the passage of The Fair Housing Act's prohibitions against sex discrimination in housing-related transactions and the protections of The Equal Credit Opportunity Act. Myers closed on her Detroit home this past October. She learned about Huntington Bank's "Home For Good" program, which provided down payment assistance, covered some closing costs, and eliminated private mortgage insurance (PMI), which protects lenders if the borrower defaults. This encouraged her to move forward with homeownership. 'I started looking as soon I got pre-approved,' Myers said. U.S. home ownership: Mortgage rates aren't budging. Americans are buying homes anyway. "There are some amazing ways for first-time homebuyers to get into homes with very little out-of-pocket," said Joe Bigelman, branch manager and mortgage loan consultant of John Adams Mortgage Co. First-time buyers like Myers also are benefiting from other initiatives to ease the financial challenges of homeownership. For example, the Michigan State Housing Development Authority (MSHDA), for instance, offers programs designed to assist first-generation homebuyers by providing down payment assistance and additional resources. 'Single women are increasingly investing in themselves, viewing homeownership as a powerful tool for building wealth and long-term stability,' said Jeanette Schneider, president and regional director of Re/Max of Southeastern Michigan. 'Many are willing to make financial sacrifices, prioritizing saving for a home over discretionary spending to achieve their goal.' Outpacing single men Today, single women have outpaced single men in home buying for over 40 consecutive years. According to the National Association of Realtors, they accounted for 20% of all homebuyers nationally in 2024, up from 19% in 2023, despite wage gaps and rising home prices. In contrast, single men have accounted for 7% to 9% of buyers in recent years. 'I'm happy with the house that I got. It's actually in the same neighborhood where I went to school as a kid. It feels like a full-circle moment,' Myers said. Myers said she learned as a first-time buyer that compromises are often necessary. 'You're not going to get everything you want the first time around, especially with limited funds. The first house isn't usually the dream house, at least for me. This is a stepping stone to get me to my dream house down the road,' she explained. Among first-time buyers, the presence of single women is even more pronounced. In 1985, 75% of first-time buyers were married; today that share is just 50%. Meanwhile, single women first-time buyers grew from 11% in 1985 to 24% in 2024. In comparison, single men rose from 9% in 1985 to 11% in 2024. Myers chose her home for its updates, including a new roof and solid mechanical systems. 'My inspector advised me to keep up with regular maintenance, and I was looking for a house with good bones that wouldn't be too much of a headache. Being in my 20s and not yet making a ton of money, I wanted something manageable.' Initially hoping to purchase in Southfield, Michigan, Myers said she ultimately bought in Detroit because homes in her price range in Southfield required significant repairs. 'I love my neighborhood. It's super quiet and nice,' she said. 'I wanted somewhere that felt safe.' Her new neighborhood includes a community garden for fruits and vegetables and is near two schools. Myers said her mortgage note is less expensive than her previous rent, and she now owns a three-bedroom home that's just over 1,000 square feet, with high ceilings, one and a half bathrooms, and a basement. 'I'm proud of myself for taking the leap and creating generational wealth for my future family,' Myers said. Schneider added that with higher levels of education and career success, women are gaining the financial independence to purchase homes while also using real estate as a means to help close the gender wealth gap. Schneider offered this advice for home buying success: 1. Take control of your finances Before you start house hunting, consult a lender to determine what you can afford. Make sure to leave enough room in your budget to maintain the lifestyle you may be used to. 2. Think long-term Consider how the home will meet your future needs. How long do you plan to live in the home? Will it adapt to potential lifestyle changes? How will its resale value hold up? 3. Create a support team Work with a trusted real estate agent to help navigate the market, negotiate effectively, and secure the best deal. Select a reliable lender to explore mortgage options and financing programs, especially those designed for first-time or single buyers. 4. Protect your investment Obtain a thorough inspection and safeguard your home with a warranty to cover unexpected repairs. Ensure your homeowners' insurance is comprehensive and consider setting up an estate plan for added protection. Brendel Hightower writes about real estate and other topics for the Detroit Free Press. Contact her at bhightower@ Support local journalism: Subscribe to the Detroit Free Press.
Yahoo
22-03-2025
- Business
- Yahoo
How single women are driving the housing market: Willing to make sacrifices
Bria Myers, 27, described her experience as a first-time homebuyer as emotional but rewarding. Myers and other single women have made significant strides in the housing market, emerging as a growing segment of homebuyers and surpassing single men in homeownership rates. Before 1974, women couldn't secure a mortgage without a male co-signer. That was before passage of The Fair Housing Act's prohibitions against sex discrimination in housing-related transactions and the protections of The Equal Credit Opportunity Act. Myers closed on her Detroit home this past October. She learned about Huntington Bank's "Home For Good" program, which provided down payment assistance, covered some closing costs, and eliminated private mortgage insurance (PMI), which protects lenders if the borrower defaults. This encouraged her to move forward with homeownership. 'I started looking as soon I got pre-approved,' Myers said. "There are some amazing ways for first-time homebuyers to get into homes with very little out-of-pocket," said Joe Bigelman, branch manager and mortgage loan consultant of John Adams Mortgage Co. First-time buyers like Myers also are benefiting from other initiatives to ease the financial challenges of homeownership. For example, the Michigan State Housing Development Authority (MSHDA), for instance, offers programs designed to assist first-generation homebuyers by providing down payment assistance and additional resources. 'Single women are increasingly investing in themselves, viewing homeownership as a powerful tool for building wealth and long-term stability,' said Jeanette Schneider, president and regional director of Re/Max of Southeastern Michigan. 'Many are willing to make financial sacrifices, prioritizing saving for a home over discretionary spending to achieve their goal.' Today, single women have outpaced single men in home buying for over 40 consecutive years. According to the National Association of Realtors, they accounted for 20% of all homebuyers nationally in 2024, up from 19% in 2023, despite wage gaps and rising home prices. In contrast, single men have accounted for 7% to 9% of buyers in recent years. 'I'm happy with the house that I got. It's actually in the same neighborhood where I went to school as a kid. It feels like a full-circle moment,' Myers said. Myers said she learned as a first-time buyer that compromises are often necessary. 'You're not going to get everything you want the first time around, especially with limited funds. The first house isn't usually the dream house, at least for me. This is a stepping stone to get me to my dream house down the road,' she explained. Among first-time buyers, the presence of single women is even more pronounced. In 1985, 75% of first-time buyers were married; today that share is just 50%. Meanwhile, single women first-time buyers grew from 11% in 1985 to 24% in 2024. In comparison, single men rose from 9% in 1985 to 11% in 2024. Myers chose her home for its updates, including a new roof and solid mechanical systems. 'My inspector advised me to keep up with regular maintenance, and I was looking for a house with good bones that wouldn't be too much of a headache. Being in my 20s and not yet making a ton of money, I wanted something manageable.' Initially hoping to purchase in Southfield, Myers said she ultimately bought in Detroit because homes in her price range in Southfield required significant repairs. 'I love my neighborhood. It's super quiet and nice,' she said. 'I wanted somewhere that felt safe.' Her new neighborhood includes a community garden for fruits and vegetables and is near two schools. More: Detroit's most expensive home resurfaces: Fisher mansion hits the market at $7 million Myers said her mortgage note is less expensive than her previous rent, and she now owns a three-bedroom home that's just over 1,000 square feet, with high ceilings, one and a half bathrooms, and a basement. 'I'm proud of myself for taking the leap and creating generational wealth for my future family,' Myers said. Schneider added that with higher levels of education and career success, women are gaining the financial independence to purchase homes while also using real estate as a means to help close the gender wealth gap. Schneider offered this advice for home buying success: Before you start house hunting, consult a lender to determine what you can afford. Make sure to leave enough room in your budget to maintain the lifestyle you may be used to. Consider how the home will meet your future needs. How long do you plan to live in the home? Will it adapt to potential lifestyle changes? How will its resale value hold up? Work with a trusted real estate agent to help navigate the market, negotiate effectively, and secure the best deal. Select a reliable lender to explore mortgage options and financing programs, especially those designed for first-time or single buyers. Obtain a thorough inspection and safeguard your home with a warranty to cover unexpected repairs. Ensure your homeowners' insurance is comprehensive and consider setting up an estate plan for added protection. Brendel Hightower writes about real estate and other topics for the Detroit Free Press. Contact her at bhightower@ Support local journalism: Subscribe to the Detroit Free Press. This article originally appeared on Detroit Free Press: How single women are driving the housing market
CBS News
19-02-2025
- Business
- CBS News
Michigan program offers $25K to assist first-generation homebuyers
The Michigan State Housing Development Authority (MSHDA) announced Tuesday it has launched a program to support first-generation homebuyers. The First-Generation Down Payment Assistance Program offers a $25,000 loan to help with a down payment, closing costs and prepaid expenses, according to a news release. The program is available in all counties. Anyone interested must meet the following criteria: Must meet the definition of first-generation homebuyer, have no prior history of homeownership in the last three years and must use the property as their primary residence. Must fall within the household income limits set by MSHDA. A minimum credit score of 640 is required. The target property sale price cannot be more than $224,500. No parent of the borrower(s) has owned a home in the last three years. The First-Generation DPA must be combined with an MI Home Loan (conventional, FHA, or USDA). Must complete a face-to-face homebuyer education class offered by a HUD-approved housing counseling agency. Must meet all other program eligibility requirements. "Homeownership is an important pathway to economic vitality and mobility for our state and its residents, but too many first-time buyers face financial barriers that put it out of reach," said Amy Hovey, chief executive officer and executive director of MSHDA. "With rents soaring, this program offers families a foot in the door and much-needed stability by helping them secure a home with a fixed monthly cost. This financial boost will allow first-generation homebuyers to invest in their futures, strengthen their communities, and build generational wealth."
