The good news for Texas is that the economic climate is strong. The not-so-good news? Housing affordability is as much a challenge in the Lone Star State as it is in other parts of the country, lower cost of living notwithstanding. It is this challenge that brought together the six-person panel on affordability at the recent Connect Texas Multifamily conference. The session, entitled “Affordable Housing: Short Supply + Growing Demand = Opportunity” saw moderator Hugh Cobb, with Alpha Barnes Real Estate Services, asking questions of the public and private housing panelists.
The first question? The aging demographic, and its impact on affordability. Gary Newbold with Amtex Multi-Housing indicated that affordability issues are about the same for senior housing as it is for standard multifamily. He acknowledged, however, that many of the seniors requiring low-income housing have been unable to physically or economically support their household. “They haven’t been able to set enough aside,” he said. “Or they’ve lost a partner or loved one.”
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Pictured (L-R): Hugh Cobb (Alpha Barnes Real Estate Services); Tim Lott (Dallas Housing Authority); Janine Sisak (DMA Companies); Theresa Ebner (LDG Development); Gary Newbold (Amtex Multi-Housing); Debra Guerrero (The NRP Group)