Affordable housing forum planned in October
The Eastern Connecticut Association of Realtors has won a $5,000 grant from the the National Association of Realtors to help fund an affordable-housing forum this fall.
The forum, to be held from 5:30 to 8 p.m. Oct. 26 at Three Rivers Community College, will be jointly presented by the local Realtors group and the Southeastern Connecticut Housing Alliance.
"This grant will help raise awareness about the need for more housing opportunities in our community, as well identify and promote solutions that address affordable housing for multiple generations," said Susy Hurlbert, chief executive officer of the local Realtors association covering New London and Windham counties.
Keynote speaker for the forum will be Jennifer Molinsky, senior research associate with the Joint Center for Housing Studies at Harvard University. She will address housing issues for millennials and seniors.
"The forum will highlight the changing demographics of the region and present solutions to meeting housing needs," according to a release. "Participants in the forum will leave with implementable solutions that will create or expand housing opportunities in their own communities."
According to the Realtors association, southeastern Connecticut families are increasingly pressed by housing costs.
Between 2000 and 2014, according to statistics cited by the group, the percentage of households paying more than 30 percent of income for housing costs shot up from 25 percent to 37 percent. Renters are even worse off, with half paying more than 30 percent of their income for housing.
What's more, the association said, affordable housing opportunities are limited. About 80 percent of the region's affordable housing and two-thirds of all multifamily housing can be found in just four urban areas.
"The forum is particularly well-timed since one of the region's employers (submarine builder Electric Boat) plans to hire an additional 8,000 workers over the next ten years, attracting new residents and creating additional demand for affordable, age-appropriate housing," the release said.
Among the demographic issues to be addressed at the forum will be an expected 50 percent increase in local senior households over the next 15 years.
"Members of the millennial generation are graduating with $25,000 to $50,000 in debt and needing more affordable options to the single-family home as they begin their careers," the release added.
The forum is funded by the national Realtors group's Housing Opportunity Grants that are awarded 10 times a year. More than $1.5 million has been awarded since the grant's inception in 2006.
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