Affordable housing latest news

Here are some of the latest news and updates on affordable housing:

National News

  1. Affordable Housing Crisis Deepens: A new report by the National Low Income Housing Coalition (NLIHC) finds that the affordable housing crisis has worsened, with 7.2 million extremely low-income renter households paying more than 50% of their income on rent. (Source: NLIHC, February 2023)
  2. Biden Administration Announces Affordable Housing Initiative: The Biden administration has launched a new initiative to address the affordable housing crisis, which includes increasing funding for affordable housing programs, promoting community land trusts, and encouraging private investment in affordable housing. (Source: White House, February 2023)
  3. Affordable Housing Tax Credit Program Extended: The Affordable Housing Tax Credit Program, which provides tax credits to developers of affordable housing projects, has been extended through 2025. (Source: IRS, February 2023)

State and Local News

  1. California Proposes Affordable Housing Bond: California Governor Gavin Newsom has proposed a $3 billion bond to fund affordable housing projects, including the construction of new apartments and the rehabilitation of existing affordable housing units. (Source: California Governor's Office, January 2023)
  2. New York City Announces Affordable Housing Plan: The New York City Department of Housing Preservation and Development has announced a new plan to build 10,000 new affordable housing units over the next decade, with a focus on preserving existing affordable housing stock. (Source: NYC Department of Housing Preservation and Development, January 2023)
  3. Chicago Announces Affordable Housing Initiative: The City of Chicago has launched a new initiative to build 1,000 new affordable housing units over the next three years, with a focus on creating affordable housing opportunities in underserved neighborhoods. (Source: City of Chicago, February 2023)

Industry News

  1. Affordable Housing Developers Face Challenges: A new report by the Urban Institute finds that affordable housing developers are facing significant challenges, including rising construction costs, limited funding, and regulatory hurdles. (Source: Urban Institute, January 2023)
  2. New Affordable Housing Financing Options Emerge: Several new financing options have emerged to support affordable housing development, including impact investing, community land trusts, and social impact bonds. (Source: Affordable Housing Finance, February 2023)
  3. Technology Plays a Growing Role in Affordable Housing: Technology is playing a growing role in affordable housing, with innovations such as modular construction, 3D printing, and data analytics helping to streamline the development process and reduce costs. (Source: Construction Business Owner, February 2023)

Research and Reports

  1. The State of Affordable Housing in America: A new report by the National Association of Realtors finds that the affordable housing crisis is affecting millions of Americans, with 44% of renters paying more than 30% of their income on rent. (Source: National Association of Realtors, January 2023)
  2. Affordable Housing and Economic Development: A new report by the Federal Reserve Bank of San Francisco finds that affordable housing can have a positive impact on local economies, by increasing economic activity and creating jobs. (Source: Federal Reserve Bank of San Francisco, February 2023)
  3. The Benefits of Affordable Housing: A new report by the Urban Institute finds that affordable housing can have numerous benefits, including improved health outcomes, increased economic mobility, and reduced poverty rates. (Source: Urban Institute, January 2023)