The Pacheco family – Aquilino, Adelfa, Alejandra (14), Vivian (11) and Camila (3) has lived in an extremely small two-bedroom structure for the past four years. It is essentially a wooden shack with a septic tank, and exposed electrical wires hanging throughout. Aquilino cordoned off the second bedroom for his two daughters and installed a window in one part of the structure, which provides the only source of natural light in the entire home. The family had to purchase everything for the unit, including the refrigerator, stove, and carpet and is responsible for all repairs.
On October 10th, 25 Bank of America employee volunteers gathered to build a new homes on Foundation Lane in El Cajon, the final two in the second phase of Habitat’s 10-home community. Bank of America is committed to strengthening local communities through better housing opportunities, and has supported Habitat’s work for more than 25 years.
This home build is part of the second Global Build Week, during which Bank of America and Habitat for Humanity partnered to address affordable housing challenges, helping families build homes and achieve home ownership in more than 60 communities across the U.S., as well as 7 international cities including London, Hong Kong, Sydney, Jakarta, Manila, Toronto, and Mumbai.
“Access to affordable, stable housing is foundational to a family’s long-term financial stability and growth,” said Rick Bregman, San Diego Market President, Bank of America. “We’re pleased to partner with Habitat for Humanity and to help families like the Muñozes achieve homeownership and build a stronger, more vibrant community.”
The partnership with Habitat for Humanity is just one element of Bank of America’s broader commitment to help people live better financial lives, and support stronger communities and stable economies.
This year, Bank of America distributed $320,000 in community development funding to San Diego nonprofits to help individual and families regain and maintain financial stability through access to affordable housing, emergency housing and mortgage training.
To learn more about Bank of America’s Corporate Social Responsibility programs and practices, please visit www.bankofamerica.com/about and follow the company on Twitter @BofA_News and @BofA_Community.
A recent study by Interest.com found that San Diego has the second least affordable housing market among the 25 largest cities in the US. With 38% of our residents’ median income below the median home price, we received an “F” in housing affordability. The median price of a home in San Diego County was $440,000 in October, and according to the most recent census, the county’s median household income is about $63,000. Only San Francisco had a worse housing market, and major cities like New York, Los Angeles, and Miami also fared poorly.
This report showed us what we already know–that many San Diegans are struggling to find affordable places to live. Here at Habitat, we are committed to helping our neighbors and providing affordable housing to everyone in need. The work we do is sorely needed in our community, and we thank you for your continued support.
According to a recent study by The California Housing Partnership Corporation (CHPC), San Diego has the second largest shortfall of homes affordable to low income families in California. Many of these families live in unhealthy or unsafe conditions, crowd multiple people into each room and still pay more than 50 percent of their income on rent. Since 2000, median rent in San Diego County has increased by 23 percent but the median income has decreased by seven percent, making it more difficult for low income families to afford a home.
Click here to read the CHPC report for these and more interesting findings about the state of housing in San Diego.
However, with your help, San Diego Habitat for Humanity is addressing this major challenge, providing affordable homeownership opportunities to low income families in the neighborhoods throughout San Diego County. The statistics in this report show exactly what Habitat wants to change, and how it truly does affect the lives of so many people.
San Diego Habitat for Humanity offers everyone a chance to make things better, and gives hope to so many. Becoming a part of Habitat’s mission can change the lives of families, one home at a time.
San Diego has been recently ranked as the 12th least affordable market nationally. According to a recent Sign On San Diego article, San Diego housing affordability up slightly in 3rd quarter, housing affordability is up from the previously ranked 10th least affordable market in the 2nd quarter of this year. The article states that of those families earning the median income of $75,500, fifty one percent found the homes with a median housing price of $325,000 to be affordable.
This drop in the national ranking is improvement, however; there is still progress to be made. San Diego is still down from last year’s 19th spot in the least affordable ranking. With all this need for affordable housing San Diego Habitat for Humanity has the answer!
SDHFH is the local affiliate of Habitat for Humanity International, a nonprofit, ecumenical Christian housing ministry that offers families in need a hand up, not a handout. By building homes in partnership with families in need, SDHFH seeks to eliminate poverty housing and substandard living conditions in San Diego County, and to make decent shelter a matter of conscience and action. We invite people of all backgrounds, all faiths, or no faith, races and religions to build houses together in partnership with families in need.
We offer families a “hand up” instead of a “hand out,” so we prefer not to call ourselves a “charity.” By selling the homes to the families instead of giving them away, Habitat fosters self-sufficiency and independence. In addition, Habitat homeowners are required to contribute 250-500 hours of “sweat equity” in the construction of their own or others’ homes. Donations to San Diego Habitat for Humanity are tax-deductible. To make a donation, please call 619-283-4663.