Comments on: The Federal Reserve presents a tale of two Texas poverty neighborhoods http://texashousers.net/2008/11/08/the-federal-reserve-presents-a-tale-of-two-texas-poverty-neighborhoods/ working together to make low-income housing and community development a priority in Texas Sun, 15 Apr 2012 18:28:35 +0000 hourly 1 http://wordpress.com/ By: Dena Davis http://texashousers.net/2008/11/08/the-federal-reserve-presents-a-tale-of-two-texas-poverty-neighborhoods/#comment-513 Sun, 09 Nov 2008 02:36:25 +0000 http://txlihis.wordpress.com/?p=1268#comment-513 As an investor in the East Austin neighborhood, It is really hard to keep the housing affordable. Its a neighborhood where the appreciation rates have been in excess of 13% per year for the last 4 years. We have to increase the rents because our taxes are going up just as fast as health care premiums. A lot of my clients wanted to buy and hold in this area and rehab the property later.

They would have been happy to keep old tenants in place. But soon between the mortgage payments and the taxes– the rents had to go up. That means that improvements had to be made to the property in order to “fetch” the higher rent.

Then the investors are faced with recouping mortgage payments, taxes and improvements.

This is a neighborhood where a 3 bedroom house can now rent between 1200.00 to 1500.00. I the the answer is a freeze in the property taxes in the areas where the landlord could provide proof of occupancy by a low income resident.

How to administrate such a program?? I will leave that to you.

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