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- A neighbourhood of tiny homes that homeless people rent to own & These tiny houses let you escape to scenic pockets of Australia
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Brisbane median house prices eased in the March quarter, falling 2.9 per cent, alongside a similar fall in quarterly apartment prices, which contracted 2.7 per cent
A neighbourhood of tiny homes that homeless people rent to own & These tiny houses let you escape to scenic pockets of Australia
Detroit is getting a neighbourhood of tiny homes that homeless people rent to own
Tiny homes are being built around the country for a variety of reasons — some are designed for affordability, others are prefabricated to be constructed quickly, and some are made by people who simply choose to live a minimalist lifestyle.
In Detroit, an entire neighbourhood of tiny houses is under construction, with one primary goal: giving homeless and low-income people the opportunity to own a house.
Cass Community Social ServicesA comparison of the Detroit street today vs. what it will look like with the tiny homes.
A local nonprofit organisation called Cass Community Social Services is spearheading the project, which will build 25 single-family homes ranging from 250 to 400 square feet.
The first six homes were completed in late 2016.
At least half of the 25 houses will be occupied by formerly homeless people, with seniors, college students and Cass staff members making up the rest of the population.
The concept of providing tiny houses for low-income people isn’t new — San Jose, California recently passed a law to facilitate the construction of tiny homes for the homeless, and many other cities, including Austin, Texas and Portland, Oregon have created villages of tiny homes for the homeless.
These initiatives are supported by research that suggests the most efficient way to combat homelessness is to simply provide those living on the streets with homes.
But the Detroit model is different for an important reason: It’s the only tiny house community in the country where residents rent to own.
“Everybody is talking right now about ending homelessness, but really the goal for this project is to end poverty for these families,” Reverend Faith Fowler, the executive director of Cass, told Business Insider.
When they move in, residents will start by signing a one-year lease with a stipulated rent that amounts to no more than one third of their monthly income. They will continue to sign new annual leases for their first three years in the home (as long as they pay rent on time and comply with the rest of the terms).
After three years, they will be invited to sign a land contract that amounts to the total rent for four subsequent years. After paying that off (seven years after moving in), the resident will legally become the owner of the land and home. Their rent will have essentially bought them the house.
Fowler said the hope is that the homes can become cushions the residents can fall back on in times of crisis, and can allow them to take out loans with better interest rates.
“You have something to leave on generationally in your family, which is part of the American Dream,” she said.
The houses are available for individuals or couples, and are being built by a combination of professional construction workers and Cass volunteers.
Once complete, the neighbourhood will also be exceptional for another reason: Each tiny home will look unique. Cass purchased 25 individual sets of architectural plans, ranging from Cape Cod to Victorian to Modern styles.
“Everything is very different on purpose so people have a pride in their home,” Fowler said.
Now that the initial model house is finished, the rest of the homes are expected to be built in batches of six. Because they’re so small, each only requires five weeks of construction and costs an estimated $US40,000 to $US50,000.
The development is completely funded by private money, much of which has come in the form of grants from organisations like the Ford Motor Company and the RNR Foundation. So far, Cass has raised $US800,000 of the desired $US1.5 million.
The first round of tenants moved into the homes in early June. The organisation accepted applications for the first batch of homes through the end of October 2016, and Fowler said over 600 paper applications had been handed out.
The organisation is primarily looked for people who were ready but financially unable to become homeowners, she explained. The applicants’ financial, criminal, housing and employment histories were examined, and the top candidates were invited for an interview, partially to get to know them and also to make sure they understood the neighbourhood will be in the spotlight.
The tenants are now part of a homeowners association, which will be involved in the process of choosing future residents. They will also take part in mandatory monthly classes about financial literacy and home ownership.
These policies came out of several months of research that Fowler conducted in the summer of 2015, when she visited other low-income tiny home villages around the country. She said those trips led her to make several novel decisions for the community.
Unlike many similar residential projects, the Cass Tiny Homes community won’t feature communal space for cooking or doing laundry, since that could make it more complicated for residents to sell their homes later. Plus, the tiny houses are being built on regular 3,000-square-foot lots. All but one of the lots were completely vacant before Cass took them over, and Fowler said the organisation counted 300 other vacant lots within a mile of the model house.
Fowler said Cass’ decision to locate the homes in a central area of Detroit also sets it apart.
“The other communities we visited are outside of town, they’re removed from the life of the city,” she explained. “We wanted to tuck ours into an existing neighbourhood.”
The full community of homes is expected be complete by the end of 2017 — “if all the stars align,” Fowler said.
Shacky, a new startup launching in Australia is like Airbnb meets Getaway (which, you might remember, offers tiny house nature retreats near U.S. cities). While Getaway and other tiny home “hotels” typically host several small houses on one piece of land, Shacky is all about finding unique sites for each dwelling, giving guests access to some of the most beautiful and unplugged locales in the Australian countryside.
To this end, the company partners with property owners (“hosts”) who will be responsible for maintaining Shacky houses between stays and welcoming guests in exchange for some alternative income. A 1,500-acre cattle farm and bushland full of wildlife are just a few of the sites Shacky is teasing on its website. Five locations are expected to roll out by the end of the year, with the first already up and running in northeastern Victoria.
Set on a tranquil olive grove, owned by a pair of retirees and home to flocks of sheep and alpaca, the first bookable Shacky looks a bit quirkier than the tiny houses we’re used to. This sloped-roof dwelling features an assortment of wooden detailing from the inside out, plus expansive windows and a small front deck.
The interior is outfitted in a more familiar pared-back modern look, and comes equipped with a Queen-sized bed, small stove, mini bridge, and bathroom with toilet, shower, and biodegradable toiletries. The solar-powered abode is renting for $199 a night on weekdays and $249 a night on weekends.
These tiny houses let you escape to scenic pockets of Australia https://lnkd.in/g7dm3Vd
These tiny houses let you escape to scenic pockets of Australia https://www.curbed.com/2017/6/14/15803660/tiny-houses-for-rent-shacky-australia via @Curbed
Linda-Jane 姬琳达珍 Debello , Linda J.姬琳达珍 Gilland (Debello) , Linda-Jane 姬琳达珍 Gilland(Debello) , A.A. Debello
SPRINGWOOD AIR-CONDITIONED 3 BEDROOM HOME WITH STUDY NOOK.
10B Karawatha Street, Springwood
A reminder that although capital city dwelling values have largely increased over the past 20 years, they are not immune from potential declines.
When we think about the housing market we tend to focus on when values rise but in the recent past values have fallen in each capital city; this week we look at the magnitude and duration of these falls in the past.
Throughout the past 20 years it has been much more common for combined capital city dwelling values to have been increasing than falling.
Although value rises have been more common, it doesn’t mean that the housing market is bulletproof and in some instances values have fallen quite dramatically and rapidly.
Typically the Reserve Bank (RBA) or the Government have adjusted fiscal and/or monetary policy to support the housing market and arrest the value falls.
Across the combined capital cities, dwelling values have increased by 346.4% over the 20 years to April 2017.
In the two periods in which values have fallen, capital city dwelling values fell by -6.1% between March and December 2008 and they fell by -7.4% between October 2010 and May 2012.
At an individual capital city level housing markets have cycled quite differently however, the majority of capital cities recorded a decline in dwelling values in both 2008 and from late 2010/early 2011.
The 2008 decline occurred as the financial crisis hit with values falling however, stimulus measures in the form of aggressive interest rate cuts along with cash handouts and boosts to first home buyer’s grants proved enough to spur demand and turnaround the decline in values.
In 2010 dwelling values fell as the post financial crisis stimulus was being wound out of the market with interest rates increasing and first home buyer incentives being removed.
These value falls were arrested as the RBA reversed direction and started to cut official interest rates again in late 2011.
Looking at the declines which commenced in 2008, the magnitude of falls was fairly minor considering most advanced economies fell into recession as a result of the financial crisis.
Hobart and Darwin were relatively unaffected by the declines however, Melbourne (-8.3%), Perth (-6.8%) and Sydney (-6.2%) were more impacted than all other capital cities.
The period of decline proved quite short and it has become clear that the stimulus measures effectively staved off sharper declines and possibly a national recession.
From 2010 to 2011/12 all capital cities experienced falls in dwelling values as the financial crisis stimulus and low interest rates were wound out of the market.
Sydney (-5.0%), Adelaide (-6.9%) and Canberra (-4.4%) were the only capital cities in which values didn’t fall by more than 10% over this period.
The largest falls were recorded in Darwin (-19.7%), Hobart (-14.3%) and Brisbane (-11.7%).
Over the period of falls, Darwin (-1.2%) averaged the largest average monthly fall along with Hobart (-0.8%), Melbourne (-0.6%) and Perth (-0.6%).
Across the other capital cities, Sydney, Adelaide and Canberra recorded average declines of -0.3%/month and Brisbane’s declines averaged -0.5%/month.
This analysis serves as a reminder that although capital city dwelling values have largely increased over the past 20 years, they are not immune from potential declines.
The impetus for these previous declines have been external economic shocks and the stimulus of low interest rates and grants to first home buyers being removed.
We aren’t currently seeing any economic shocks of the size of the 2008 financial crisis but we are seeing unemployment rate at similar levels to 2008/09 and historically high levels of underemployment.
The market is also slowly seeing historic low mortgage rates moving higher against a backdrop of record low wages growth and record high household debt.
Depending on how much mortgage rates are increased (noting that this is not happening due to the RBA) home owners should be aware that it could lead to a slowing or even some potential falls in dwelling values.
Cameron Kusher is head of research for CoreLogic.
A loan to value ratio is the proportion of the loan being borrowed compared to the deposit, so an LVR of 90 per cent is when a borrower has a 10 per cent deposit. Explainer: What are interest-only loans and why is there a crackdown on them? #propertymanager #ljgrealestate http://mvnt.us/m351260
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