All Forum Posts by: Greg Andrade

Apartments in Connecticut have a 95.6% occupancy rate and stay on the market for just 37 days—making it one of the most competitive rental markets around! 🏘️💥 Experts say the lack of new housing, high rent-to-income ratios, and post-pandemic demand are driving this fierce competition. With homeownership out of reach for many, renting is the only option, creating a housing crunch and insecurity for residents. #RentalMarket #ConnecticutRealEstate #HousingCrisis #RentersRights

What do you think about this?

Gov. Ned Lamont emphasized the role of homeownership in building wealth and community ties, with the average loan amount at $30,000 per household.

Despite the program’s popularity, Sen. Henri Martin voiced concerns, arguing that adding grants in a tight housing market only worsens demand. With the state needing 90,000 new homes to meet job growth, Martin suggested that the program does little to address the underlying shortage. Nonetheless, the State Bond Commission approved the funding extension.

#Homeownership #FirstTimeHomebuyer #AffordableHousing #CTRealEstate #HousingSupport #TimeToOwn #HousingCrisis #ConnecticutHousing #ForgivableLoans #GovLamont

The company offers what they call "attainably priced" apartments, arguing that their rents are lower than market rate. In wealthier communities, Vessel sets aside 30% of the units as affordable housing. However, their projects have been met with controversy in some towns, with residents concerned about aesthetics, traffic, and impact on neighborhoods.

This expansion is being driven by the growing need for senior housing in the state, particularly to accommodate the Baby Boomer generation. Duncaster is confident that this expansion will allow them to better serve this demographic. The expansion is also expected to create 50 new jobs.