Monterey, CA Non-Profits Looking To Create More Affordable Housing

View From A Non-Profit Serving Carmel, Carmel Valley, Gonzalez, Greenfield, King City, Marina, Monterey, Pacific Grove, Pebble Beach, Salinas, Seaside And Soledad California Real Estate Investment Trusts (REITs), companies which invest in real estate, have had their ups and downs but many feel that the market will rebound and it's time to invest in these types of funds.  But it's not just for-profit companies that see an opportunity.  A number of non-profits including Mercy Housing, LNC Housing and Nevada HAND have created a non-profit REIT which will start buying up real estate with the view of creating more affordable housing.  What a wonderful idea.  The Joint Center For Housing Studies of Harvard put out a report in 2011 that 8.7% of low-income rental space was upgraded to higher income units during the last decade.  There is a dearth of affordable housing on the Monterey Peninsula and seniors have a difficult time finding an affordable place to live.  Hopefully, the REIT (which already has lined up $100 mil. in funds) will move into this area.  Prices here are indeed starting to rise and this may be just the time to jump in the market.

Please note that this blog reflects my personal opinion and may or may not reflect the opinion of Hands to Help Seniors and the individual members comprising the Board of Governors.