News from 2020
Just before Christmas, the City released its FY2018-20191. Comprehensive Annual Financial Report (CAFR), more commonly referred to as its “annual audit.” There is some good news, but it comes with some big question marks. But mostly it is just the latest chapter in the chronicle of the City’s long-term fiscal deterioration. The situation was aptly summarized by our City Controller, Chris Brown, in his introductory letter:
Last week, I had the chance take part in a panel with Dr. Rod Paige, former U.S. Secretary of Education under President George W. Bush; George Foreman, 2x World Heavyweight Champion; and State Rep. Harrold Dutton at Texas Public Policy Foundation’s 2020 Policy Orientation.
Truth in Accounting released their annual Financial State of the Cities report which breaks down the annual financial reports from the nation’s 75 most populous cities. Notably, the report found that 63 of the cities did not have enough funding to pay all of their bills, meaning they deferred much of these costs onto future taxpayers. They also found that the collective debt for all 75 cities totaled more than $320 billion.
By Urban Reform
Apartment List just released their 2020 Renter Migration Report detailing where renters in major American metros are moving to and from. The report found that 22.7 percent of apartment hunters currently living in Houston are looking to move somewhere else, while 35.6 percent of those looking for a place to live in Houston are searching from outside of the metro area.