Those who need affordable housing most have been hardest hit by the coronavirus pandemic and ensuing economic crisis. And organizations that help create affordable housing opportunities in Houston and Harris County for these families are facing challenges — some anticipated, others not — in this new and uncertain world.
The state’s property tax reform bill, which limits the amount cities and counties can raise property taxes to 3.5%, is expected to significantly affect one of the largest sources of revenue for local governments. Many will be looking for ways to circumvent the financial constraints of the measure. That’s something Houston has been dealing with since 2004.
The COVID-19 crisis forced many companies to quickly transition to work from home. Now, as the economy continues to open up, businesses have to decide if they’ll go back to the onsite world of the old normal or continue with the remote-work model of the new normal. Employees of companies that choose the latter will have more options for where they live and office, including the Urban Hotel, the Suburban Workshop and the Exurban Metropolis.
Research related to Houston’s problems with ‘newly poor’ neighborhoods, housing affordability, auto loan debt, transportation and COVID-19 all point to one overarching issue: Inequality.