Nearly a Hundred Thousand Affordable Housing Units Are Needed in the Metro Orlando Area
Affordable housing has been a growing problem throughout the country in recent years. Many housing markets – especially here in Florida – have enjoyed robust growth over the last decade or so since the mortgage crisis of2008. Unfortunately, wages have remained largely stagnant, and this makes it difficult for tenants and new homeowners to afford housing in these appreciating markets. Florida has been hit especially hard by this crisis.
Many metro areas in our state have become some of the least affordable places to live in the country. According to the Orlando Business Journal, the metro Orlando area is lacking about 91,000housing units that are affordable for families that earn 50% or less of the area’s median income of $48,511. This statistic was based on a 2019 study by the Low Income Housing Coalition. The pandemic has, of course, made the situation much worse. It is likely that far more Orlando families will be in need of affordable housing throughout 2021 and into 2022.
Affordable housing is a systemic problem that will require comprehensive solutions to be implemented over the coming years. Unfortunately, there are many Orlando families that need help now. Federal COVID moratoriums on evictions and foreclosures are due to expire in early 2021. If they are not renewed, thousands of Florida families could be left without safe housing before the pandemic has been adequately controlled through mass vaccination.
Contact Oviedo and Casselberry Foreclosure and Eviction Lawyers
The experienced Casselberry and Oviedo eviction and foreclosure attorneys at Quattrochi, Torres, and Taormina are here to answer your questions and offer legal advice. You have legal rights, and you also have options. The sooner you get legal advice, the better options you will have for keeping your family in your home – and safe from the spread of COVID-19. Call 407.452.4918 today to schedule your free consultation.