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0.000363768643142889 -0.000356493270280176 0.000349217897417204 0 0.000341942524554362 0 0 0
Stock impact report

Major project on Detroit church grounds aims to reduce affordable housing deficit [CBS News]

Ford Motor Company (F) 
Last ford motor company earnings: 4/28 04:09 pm Check Earnings Report
US:NYSE Investor Relations: shareholder.ford.com
Company Research Source: CBS News
In Detroit and across the state, projects have been popping up to address the housing shortage, such as the multimillion-dollar rehab project at the church on Grand River. "I think what is a misconception is who needs affordable housing-- it's really a number of middle-income Americans," said Aubrey McFarlane, the president and CEO of Volunteers of America Michigan. CBS News Detroit dug into the numbers and found that affordable housing costs should take up to 30% of a person's income, according to the US Department of Housing and Urban Development. Anything higher is considered cost-burdened. "We have folks that have worked for Ford Motor Company for their entire life and still can't afford to get an apartment out in the community," said McFarlane. Data analyzed by the Detroit Justice Center and published in 2022 found that about 61% of Detroit renters pay above that 30% threshold. Part of the problem is a lack of affordable units. "The goal really is to provide these unit Show less Read more
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