What Happens When Affordability Restrictions Expire for Half a Million Homes?
“As rents continue to rise more quickly than incomes across the U.S., cities have become increasingly focused on affordable housing: How to pay for it, where to put it, and how to keep it from disappearing. Hundreds of thousands of affordable units created under one of the biggest federal housing programs ever could start disappearing soon, in a manner of speaking. According to a new report from the National Low Income Housing Coalition and the Public and Affordable Housing Research Corporation, nearly half a million units created with Low Income Housing Tax Credits (LIHTCs) could be lost in the next ten years.”