Surmick a jack of all trades and master of one: affordable housing
Community Connections interviews Rachael Surmick, a community development advisor in the Research, Regional and Community Affairs Division of the Federal Reserve Bank of Kansas City. Surmick lives in Lincoln and works out of the Omaha branch. She joined the Bank in October 2023 after more than a decade in community development work. Her family background inspired her passion for affordable housing.
Community Connections
Community Development
Housing
Nebraska
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Jennifer Wilding
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January 23, 2025
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First-Time Homeownership Became Less Affordable Across Most of the United States in Recent Years
New homeownership became less affordable across much of the United States over the last five years. Swiftly rising house prices and higher borrowing costs have not been fully offset by wage gains, making homeownership less affordable in both metropolitan and rural areas. Although new homeownership is less affordable than in years past, slower housing price gains and steadily rising wages may offer some reprieve for housing affordability in the coming year.
Housing
Economic Geography
Economic Bulletin
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Chase Farha
John McCoy
David Rodziewicz
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January 15, 2025
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Oklahoma’s housing future: Insights from the 2024 Oklahoma Statewide Housing Needs Assessment
No Description Provided.
Community Connections
Community Development
Housing
Oklahoma
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Steve Shepelwich
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November 13, 2024
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Affordable housing leaders share challenges, successes during CDAC meeting in Omaha
At its October meeting, the Kansas City Fed Community Development Advisory Council heard from a panel of local housing experts and toured a new Habitat for Humanity of Omaha development in northwest Omaha.
Community Connections
Community Development
Housing
Nebraska
Omaha Branch
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Rachael Surmick
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November 13, 2024
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Web Page
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Denver new construction offers a lesson in affordable housing financing
Blending multiple streams of funding can bring an affordable housing project to fruition. In Denver, Mercy Housing built The Rose on Colfax, with 82 affordable housing units, a commercial childcare facility and wraparound services...during a pandemic and fluctuating prices. Learn how they did it.
Community Connections
Community Development
Community
Community Development Investments
Housing
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Ariel Cisneros
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November 12, 2024
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Hundreds of Kansans tackle the state’s growing need for housing
No Description Provided.
Community Connections
Community Development
Housing
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Rachael Surmick
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September 4, 2024
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Why Are Multifamily Property Prices Falling?
Multifamily property prices climbed to record levels in recent years amid low interest rates and surging housing demand. More recently, prices have retreated in the face of higher interest rates, slower rent growth, elevated operating expenses, and increased delivery of new units available for rent. However, the deterioration in these fundamentals does not fully explain recent property price declines, suggesting investors’ near-term outlooks have been pessimistic.
Housing
Banking and Finance
Economic Bulletin
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Matt Hanauer
W. Blake Marsh
Nicholas Sly
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September 4, 2024
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Housing Services Inflation May Decline Only Gradually
The inflation rate for housing services remains about 2 percentage points above its 2019 level. Several factors are likely to slow its decline, including more than a decade of underbuilding prior to the pandemic, limited capacity to increase the nation’s housing stock, and the limited number of homes available for sale due to the steeper mortgage rates owners would face if they sold and purchased a different home.
Housing
Economic Bulletin
Inflation
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Jordan Rappaport
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June 24, 2024
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Flood Risk Exposures and Mortgage-Backed Security Asset Performance and Risk Sharing
Flood risk has historically resulted in poorer performance for both individual mortgages and mortgage-backed securities.
Natural Resources and Environment
Housing
Economic Geography
Research Working Paper
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Jacob Dice
Mallick Hossain
David Rodziewicz
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May 21, 2024
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To slow displacement, one neighborhood tests a new idea: Property tax rates based on income
Kansas City, Missouri, has found a unique way to help long-time, lower income residents of the Westside, a rapidly gentrifying neighborhood, remain in their homes.
Community Connections
Community Development
Housing
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Jennifer Wilding
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March 5, 2024
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Web Page
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