Back in November we told you about the Sourcebook — a data-aggregation site that lets anyone look at state, regional, and local housing-affordability numbers.
Using data from the state’s MLSs, the Census Bureau, HUD, and Virginia Tech, the Sourcebook lets anyone (yes, anyone) look at state, regional, and local numbers to see how affordable an area is.
For example, almost a million households in the state are cost-burdened. And among lower-income families, just paying the rent or mortgage typically takes more than 42% of their income.
But the power of the Sourcebook is being able to look at that information on a local level: Incomes in Dulles may be higher than those in Martinsville, but so is the cost of housing (not to mention the commute). So the Sourcebook lets users pick a region, city, or county and see not only how affordable it is now, but how it has been trending (the data go back about five years).
“All riiiiiiiight….” I hear you say. “So you’ve got a lot of affordability data. How does that affect me?”
Well, the good folks at Housing Virginia want to explain just that, and they don’t want to take a lot of your time to do it. So they’re giving a Web-based presentation (i.e., you don’t have to leave your desk, but you can still ask questions) on April 13 at 4:00 PM to explain it. (The seminar is free, but you have to register.)
What will it do for you? Most importantly, it will explain how you can use the Sourcebook in your business by using the local stats it provides.
So save the date — April 13, 4:00 PM — and get acquainted with yet another tool for your toolbox.