What does the Affordable Housing Crisis have to Do With Us?

“Crisis” – It is a word that gets thrown around in today’s media regularly. Foreign Crisis, Economic Crisis, Housing Crisis. These are the buzz words thrown around every day to get your attention and to give you a sense of panic. And while we often face global and national crisis, the housing crisis is one that while dire, is good news for those of us in multi-family property investing. Not because we are looking to take advantage of those who are unable to afford house, quite the opposite. We now, more than ever, have the opportunity to lend our expertise in order to mend the market and offer affordable, reputable housing for a huge portion of the population.

Recent reports have noted that median-priced homes are not affordable for average wage earners in 74% of the US housing markets {Read the stats here}. 74% of the housing market is unattainable for most Americans. We are working harder, earning less, and on average, more than 30% of our wages are required as a down payment to purchase a home. As a result, more and more people are turning to rentals. Especially in cities like Charlotte where we have experienced exponential growth. It is estimated that since 2000, we have created over 100,000 new jobs, and we are still short almost 34,000 affordable housing units. The problem with a lack of affordable housing is that it creates a vacuum.

When individuals cannot afford housing within their means, they are forced to either live in conditions that are less than ideal, or they forced to go into some form of debt in order to live somewhere that is likely outside their budget for the sake of feeling safe and protected. As their debt grows, so does their inability to ever get out from under it. This leads to more and more stress as well as a lack of financial security. Eventually, they will decline so far financially, that they have no options but to move to less secure, more at risk neighborhoods, giving them no way to to escape the economic conditions that they now find themselves in.

This is why affordable, multi-family properties are essential to the growth and development of our fastest growing cities. By strategically purchasing and upgrading multi-family properties within a community, we can begin to see how we develop better communities who have the ability to grow and thrive. When we offer individuals homes that they are proud of, whether they own it or rent it, we see better outcomes. Our schools begin to flourish, our cities continue to grow, our economy strengthens, and as a whole, we see that the quality of life in those cities is vastly improved.

Here at Magnolia Capital Properties, we are always looking for opportunity. Opportunity to invest. Opportunity to grow. And opportunity to create better communities. Here at Magnolia Capital Properties, we are committed to the long term protection of your assets. We are committed to properly managing each asset in order to keep you secure and benefiting in all aspects of your multi-family investments. Delivering and managing investments in real property will help investors achieve financial independence and generate a long term passive wealth strategy. We like B & C class assets because they are predictable. They have the ability to add and hold value in the long term. Our goal is to obtain properties and bring them up to a higher class quickly so that they start working for you as quickly as possible. If you are an investor looking to  start investing, contact us today! Magnolia Capital Properties is here to build long term relationships with interested investors. So if you are looking to invest in multi-family properties that can grow in value, head to our contact page and fill out the contact form so that we can start investing with you today!

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