civic engagement Archives - AV Capture All

Trickle-down Effect on Housing Crisis

As our federal government negotiates the next coronavirus stimulus package, the pandemic is exacerbating inequities across America, especially in housing.

State and local governments face a devastating financial picture with millions of dollars lost in revenue as commerce halted in March, April and May. But what is coming next with the housing market is unprecedented.

The next massive hurdle Americans are facing is housing evictions. The eviction moratorium was recently lifted and landlords across the country, who could potentially default on their own mortgages, could evict tens of millions of renters amid a stalled economy.

Mortgage rates have spiraled downward as economic news has gone from depressing to disastrous. The average for a 30-year fixed-rate mortgage dropped on August 4th to a stunning 2.81%, according to Mortgage News Daily.

“I don’t think people realize the massive effect COVID19 is having on our housing and economic markets, and what the trickle-down effect of that will be. Not only is the rental market affected, but the single-family housing market and the economy as a whole is also looking at a catastrophic situation,” says Summer Johnson, senior mortgage officer for Washington State Employees Credit Union. “We are facing the 90-day mark and evictions of those out of work will be another major factor contributing to a financial crisis that will affect other industries.”

Trickle-down effect

The residential construction sector is a part of the trickle-down effect. The forecast for global construction growth in 2020 has been revised from 3.1 percent down to 0.5 percent. The construction supply chain has been highly impacted, generating project slippage and/or extra costs.

For renters, the outlook is grim. According to analysis from Stout Risius Ross, an investment consulting firm, almost half of the rental tenants across the country are in danger of being served eviction notices. Low-wage workers and people of color are especially vulnerable.

The pandemic is exacerbating inequities across America, especially in housing.

For homeowners, about 8% of mortgages are currently in forbearance. This summer is one of the best times for home buyers and the worst for many renters.

Another trickle-down effect is on revenues local governments collect from housing. If renters are evicted, there’s no revenue coming in for water and utilities. Local governments collected $509 billion from property taxes. This was is the largest single source of tax revenue. Taxes on homes, land, farms, and other forms of real estate make up an important revenue source for state and local governments.

Property taxes were the leading category of revenue for state and local governments, yielding 34% of tax collections. Property taxes help finance local government services, especially education. Indeed, property taxes directly targeted to education funds alone are responsible for approximately one-third of local education financing.

Losing these revenue streams puts a further burden on local government’s ability to provide services on which citizens rely. One of those services is the mandated public meeting local governments must do. Keeping citizens engaged and informed is more important than ever.

AV Capture All provides platforms for local governments to live stream public meetings at an affordable price. AV Capture– Legislative Solution is used to record Audio and Video while integrating Agendas, Minutes, and Related Documents. The document content is synchronized with the Audio/Video stream, then indexed and immediately searchable when published online. Once published, staff and citizens can view any part of the Audio/Video-on-demand, while following along with the synchronized Agenda, Minutes and Related Documents. Live Streaming is also integrated into the platform to allow staff and citizens who cannot attend the meeting in-person to view online from home.

AV Capture All is here to ensure the gears of government continue to work and the public is informed.

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Government Has an Impact on Happiness

By AV CaptureAll|2020-06-18T15:08:01-08:00June 18th, 2020|government|0 Comments

As we face the confluence of an unprecedented health crisis, an economic crisis, and a racial crisis, it is not hard to understand that Americans are stressed and looking for answers. State, Local and Federal governments continue to find ways to provide answers to these pressing issues.

The current protests taking place in all 50 states indicate citizens are frustrated and not happy with the status quo. Happiness is such an important concept that our Founders added the word to our Declaration of Independence.

Life, Liberty and the Pursuit of Happiness

The phrase gives three examples of the “unalienable rights” which the Declaration says have been given to all humans by their creator, and which governments are created to protect.

In a study done by the Office for National Statistics (ONS) into how happiness is connected to the government, it’s been found that the quality of government has a substantial impact on average happiness. The level of happiness seems to be higher in well-governed nations. The measure of happiness can be connected to the level of security and assurance citizens feel in being able to earn a living, live in healthy environments, have housing stability, and trust their leaders.

Average happiness is also connected with the quality of governance.

The quality of governance appears to be more important for happiness than the size of a government. The size of a government has some connection with average happiness but it’s the quality of a government that plays a bigger role. Big government by itself does not go together with greater happiness for most people, but good + big government does.

There is also a connection between the happier citizens are, the more apt they are to vote and be engaged to participate in government, and less apt to obstructive behavior. The better the government the happier the citizens. The fact that governance is, by definition an intentional activity supports this vision.

How does good governance add to average happiness?

Good governance isn’t the only source of happiness in itself. Citizens need to feel they are being treated carefully and respectfully.

Voting Matters

When citizens participate in elections and elevate their voice, there is a direct correlation to happiness, regardless of the outcome, according to a study done by Bruno S. Frey and Alois Stutzer, titled “Beyond Outcomes: Measuring Procedural Utility.”

The study highlights that when the government improves the collective well-being of citizens, there is a rise of collective happiness.

While some may argue that happiness is an “unscientific” concept, there is an undeniable effect and impact on citizen’s happiness and hopes for future prosperity when they are faced with a long-term economic depression or a war.

Is happiness the responsibility of society or the citizen?

This is a question that Ed Diener, a professor of psychology at the University of Virginia and the University of Utah, and senior scientist for the Gallup Organization, has studied for years. His answer is: “Of course, it is both!”

If you think about all the elements that contribute to happiness, at the top of the list are health, employment, and housing. The government plays a part in all of those elements and their actions have an influence and contribute to our happiness, yet, it is our responsibility to find happiness.

“Some people argue that people must make themselves happy because governments cannot do it and it is not the government’s responsibility. But why is happiness any different than education, or the economy, or health? To some extent, the government must do its part even though individuals also must take action. And government policies can definitely influence happiness!” said Diener.

Can we feel happiness if every citizen is not treated the same? We are seeing that being played out in the streets today with protests happening in all 50 states.

When the government plays its part in our lives by providing the essentials we need like clean water, safety, and the hopes of prosperity, then the opportunity to find happiness is made a little easier for everyone.