DS News

92 local, state, private, and philanthropic resourc- es—behind the strongest housing-first practices, we see important progress in our collective goal to end homelessness in America." According to HUD, "HUD Continuum of Care grant funding supports a broad array of interventions designed to assist individuals and families experiencing homelessness, particularly those living in places not meant for habitation, located in sheltering programs, or at imminent risk of becoming homeless." California topped the list of state and local programs being funded by the grants, with 900 programs being funded for a total of $382,566,777. Behind California comes New York (579 programs and $200 million in funding), Illinois (418 programs and $109 million in funding), Pennsylvania (519 programs and $102 million in funding), and Ohio (316 programs and $95 mil- lion in funding). HUD noted that application deadlines for programs located in Puerto Rico and the U.S. Virgin Islands had been extended until Febru- ary 16, 2018, due to the hurricane recovery efforts still underway in those regions. ose grants will be allocated separately from the announced $2 billion in funding and are due to be an- nounced sometime in mid-March. According to HUD estimates released in December 2017, 553,742 people experience home- lessness in America on any given night. Move Over New York, California Has the Priciest ZIP Code Move over Sagaponack, New York. With a median closed home sales price of $4.9 million, the most expensive ZIP code in the country in 2017 is 94027, in Atherton, San Mateo County, California. at's according to PropertyShark's annual Top Most Expensive Zip Codes in the U.S. survey released last month. e list is derived by looking at residen- tial transactions closed in 2017 and analyzing closed home sales prices. It takes into account condominiums, co-ops, and both single- and two-family homes. California has claimed the highest number of ZIP codes in the Top 100 list with 77 ZIP codes on the list. New York is close behind with 19 ZIP Codes. e ZIP code 11962 in Sagapo- nack, New York—which was ranked No. 1 last year—slipped to 15 in this year's ranking. It was replaced by 94027—Atherton, San Mateo, in California, which was ranked number two in last year's survey. e steep drop for the exclu- sive Hamptons community was mainly due to months. "e fires have had a big impact on the people and communities in and around Ventura, Ojai, and Santa Barbara," said John Venti, an Agent at Redfin. "Our already-low inventory levels are likely to take a beating in the coming months, not only from the loss of homes but also the disrup- tion of life and business in the area." In Ventura County in November, inventory was down 17.6 percent and prices grew 9.8 per- cent year-over-year to a median of $600,000. In Santa Barbara County, inventory was down 23.3 percent and prices grew 6.8 percent year-over- year to a median of $575,000. But analysts are hopeful for a resilient mar- ket. Nela Richardson, Chief Economist at Red- fin, said, "Markets have been quick to recover from severe weather events, even as challenges remain. For example, Houston home sales were up 4.3 percent in November from a year ago, and Tampa sales were up 6.1 percent. We are hopeful that Southern California markets show the same level of resilience in the aftermath of wildfires there." California Tops HUD Grant List e Department of Housing and Urban Development announced an award of $2 billion in support of thousands of local housing and service programs across the U.S. in January. is year's installment of the annual HUD Continuum of Care grants will assist more than 7,300 local programs working to house and serve individuals and families experiencing homeless- ness in their communities. According to a HUD statement, "HUD's Continuum of Care grants provide critically needed support to local programs on the front lines of serving individuals and families experi- encing homelessness." HUD Secretary Ben Carson said, "HUD stands with our local partners who are working each and every day to house and serve our most vulnerable neighbors. We know how to end homelessness and it starts with embracing a housing-first approach that relies upon proven strategies that offer permanent housing solu- tions to those who may otherwise be living in our shelters and on our streets." Secretary Carson added that working to house the homeless is both the "human thing to do" and "good public policy." Matthew Doherty, Executive Director of the U.S. Interagency Council on Homelessness, said, "Continuums of Care are critical leaders in the work to end homelessness nationwide. When communities marshal these—and other CALIFORNIA California Mudslides Claim 20 Lives, Destroy 65 Homes Heavy rains set off a series of massive mud- slides in Montecito, California, last month kill- ing 20 people, trapping hundreds more in their homes, and destroying approximately 65 homes, according to the California Department of Fire and Forestry Protection. Four people were still missing as this issue went to press. Both local authorities and the U.S. Coast Guard were involved in response operations, including helicopter rescues and attempting to retrieve residents trapped inside their homes. Some homes were actually uprooted from their foundations and swept along by the river of mud. Santa Barbara County Sheriff Bill Brown compared the scene to that of a "World War I battlefield," according to the LA Times. According to the California Department of Fire and Forestry Protection, in addition to the approximately 65 homes reported destroyed, hundreds more were damaged by the mudslides. At least 7,000 people were evacuated from the area. Tragically, much of this new disaster can be linked to a previous one California has been reeling from in recent months. e widespread wildfires that burned through the region destroyed vegetation and left the soil scorched. is type of soil cannot absorb water as easily, making the region more vulnerable to mud- slides during heavy rains—such as the ones that dumped five inches of rain on parts of Santa Barbara and Ventura last month. Estimates for the housing damages from the California wildfires topped $5 billion. It remains to be seen what the financial cost of these mud- slides will total, but the human cost is already far too clear. Wildfires and Low Inventory to Strain Southern California Housing Market According to the latest housing market report released by Redfin, home inventory in Ventura and Santa Barbara counties has de- clined in double digits for three months straight and this issue will be exacerbated by wildfires that destroyed homes in the area in the past few

• Cover