It seems these days everyone has a story about their Home Owners Association (HOA), a hair-pulling, eye-rolling, exasperated story. According to the Community Association Institute, an HOA/Community Association advocacy group, more than 63 million Americans live in communities managed by HOAs, which includes 3.4 million Texans.
Recent spikes in interest rates have affected loans for everything from corporate expansion to buying a home. We look at the affect it has had on San Antonio and what the housing market has looked like throughout the economic downturn.
San Antonio nonprofit Merced Housing Texas has received a $200,000 grant to help low-income families in its housing developments and throughout the city.
For the next two years the group will receive $25,000 every quarter to help facilitate its programs. Merced operates nearly 1,700 units for low income people across the state in Corpus Christi, Fort Worth, San Antonio and other cities but are based here.
San Antonio is adding yet another urban living project in the downtown area, but this time a significant number of units will be designated for students.
The project, located at the old Birdsong Peanut Factory site on S. Frio on the near West Side, will have 98 lofts., with 30-50 percent of them for student housing.
The official groundbreaking on Wednesday marked the beginning of a 19,000 square foot facility. Mayor Julián Castro, who has pushed for urban living and has said this is the "decade of downtown," said he was surprised by a peanut factory in San Antonio.
Bexar County Commissioners have postponed a decision on whether a local developer can build hundreds of small-lot homes in far north Bexar County. Commissioners are asking developer Gordon Hartman to meet with attorneys and area homeowners who oppose the subdivision.
Residents of Hidden Oaks near Cibolo Creek fear the development of Century Oaks will cause harm to the environment; specifically, the Golden-Cheeked Warbler, the large oaks trees that are already being cut down, and the water. The land is over the Edwards Aquifer Recharge Zone.
A Golden-cheeked Warbler and caves over the Edwards Aquifer recharge zone are the subjects of a lawsuit pending against the City of San Antonio, SAWS, and a local developer.
Members of The Cibolo Creek Conservation Society say they’ve been trying to get the attention of the City of San Antonio, SAWS, or the developer of the new Century Oaks subdivision off Evans Road, but so far haven’t had any luck. They’re concerned about the density of the housing area nestled along Cibolo Creek, the removal of trees, and the endangered species that call the area home.
Another study looking at how income compares to housing prices in the 25 largest cities in the United States shows how even in San Antonio, which is in the bottom five lowest income cities, the lower income levels mean many families can't afford median priced homes. The Interest.com study shows that San Antonio's median income falls below the income required to purchase a median priced home, but only slightly. This .55 percent difference earns San Antonio a C- in the Income.com study. -------------------
Just to compare, Detroit is also in the bottom five cities with the lowest income and finds itself in a much better position because of how the median income compares to the price of a median priced home. The percent that Detroit's median income exceeds the income required for a median priced home is 45 percent.
A median-income household can only afford a median-priced home in 14 of the nation's 25 largest metropolitan areas Atlanta, Detroit and Minneapolis-St. Paul are the most affordable cities, according to Interest.com's first Home Affordability Study. San Diego, New York and San Francisco are the least affordable.