Debbie Smith is one of the people determined to help reverse a trend toward fewer homeowners. Smith is Home Ownership Director at the not-for-profit North East Community Action Corporation (NECAC), a …
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Debbie Smith is one of the people determined to help reverse a trend toward fewer homeowners.Smith is Home Ownership Director at the not-for-profit North East Community Action Corporation (NECAC), a 12-county area social service, community health and public housing agency headquartered in Bowling Green.The agency is touting several remedies in the wake of a new report that shows home ownership rates across the nation have fallen to the lowest level in more than two decades.“Buying a home can be a complicated experience, but we can help ease families and individuals through the process,” Smith said. “Even if you don’t qualify for one of our programs, we can still offer guidance that will be invaluable.”The Census Bureau said April 28 that entry-level buyers are having trouble saving for a home purchase as prices outgrow wage increases. Mortgage lending also remains tight.The number of Americans who owned their homes dropped for the first three months of 2015 compared with the final three months of last year. The rate was the lowest since 1993.NECAC offers options such as down payment assistance, loan modification, low-interest loan programs and counseling before and after the purchase. Each year, the agency puts up to 70 families on the road to home ownership.Meanwhile, one positive side to the Census Bureau report was that as home ownership falls, demand for rental housing has boomed. The government said the vacancy rate for rental units nationally fell to 7.1 percent for the first quarter of 2015 from 8.3 percent for the same period last year – the lowest first quarter rate since 1986.NECAC works with its affordable housing partners to develop senior and family apartment complexes. Since 1997, the agency has been a partner in the construction, renovation, management or development of more than 1,200 apartments for the elderly, families and the disabled. The developments represent an investment of more than $65 million in quality affordable housing.“NECAC makes a lasting impact,” Smith said. “We open the door to new housing and home ownership opportunities through a variety of innovative programs and cooperative efforts.”More information is available by calling Smith at 573-324-6622.NECAC
