"Those affordable housing units were built with the Low-Income Housing Tax Credit, or LIHTC, a federal program established in 1986 that provides tax credits to developers in exchange for keeping rents low. It has pumped out 3.6 million units since then and boasts over half of all federally supported low-income housing nationwide…The buildings typically only need to be kept affordable for a minimum of 30 years. For the wave of LIHTC construction in the 1990s, those deadlines are arriving now, threatening to hemorrhage affordable housing supply when Americans need it most."
Posted by —4758—
2 Comments
Slash and burn on zoning laws to encourage more construction or demand subsidies. Call it.
Am I wrong in saying housing is probably the number one issue in the US right now?
I don’t mean just by popular sentiment either.
I wonder how much earlier we could’ve lowered interest rates if housing wasn’t as cramped as it is now