Words by Smiley Team
The residential real estate market was anything but normal in 2021 – and many people families throughout the US struggled because of it.
Sale prices increased by 24.4% between January 2021 and October 2021, according to Redfin data. Homebuyers were caught in heated bidding wars over properties – even if it meant renting back the property to the sellers while they looked for a new place to call home.
But even those renting found it difficult: rent rose 5.54% on average between 2020 and 2021 in the 75 most populous US cities. This limited housing supply has caused many to get creative when coming up with solutions to solve the housing crisis.
In California, lawmakers are paying attention to the idea of converting underutilized retail and office space into apartments, particularly as the pandemic-fueled e-commerce and remote work trends continue to empty brick and mortar stores and business parks. Often, in this state, there are stretches endless strip malls and huge parking lots that could be used as mixed-used buildings – living accommodation on top, and retail spaces below.
In December, Senator Anna Caballero of California, helped introduce Senate Bill 6, which would make it easier to convert land zoned for commercial uses into housing.
“We have an opportunity to create a much more walkable community, build more housing, and stop sprawl,” Caballero told Bloomberg. “We have a housing shortage today of 2.5 to 3 million units statewide. If they were all built tomorrow, they’d have tenants.”
Another member of the state’s legislature, Richard Bloom, said while they don't want to destroy "neighborhood character", it's important to balance priorities, adding: "One of which, I think, would be helping the millions of Californians who can’t access affordable housing.”
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Until these strip malls are converted into housing units, there are current, working organizations that are available to those in need of housing:
Mercy Housing: Affordable, low-income housing is being reinvented by Mercy Housing. Their mission as a national nonprofit organization is to create a more humane world where people can thrive and reach their full potential.
Catholic Charities USA: Supporting affordable housing across the country, Catholic Charities USA also offers long-term assistance to vulnerable populations through emergency shelters and long-term assistance programs.
National Affordable Housing Trust: A total of more than 22,000 senior and family-friendly affordable housing units have been built or preserved with the help of NAHT's Development and Investor Partners.
Stewards of Affordable Housing for the Future: More than 149,000 low-cost rental homes are owned by the thirteen nonprofit affordable housing providers that make up SAHF. SAHF was founded in 2003 by a group of like-minded individuals who wanted to promote the idea that everyone deserves access to safe, affordable, and well-maintained housing.
DONATE: Donate to Mercy Housing to help them support more struggling families across the US.
SUPPORT: Find out ways to support housing trusts across the US by giving back your time.
READ: Find out more about co-operatives, a fix for housing insecurity.
