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Thread: Nearly Half a Million U.S. Homes Are About to Become Unaffordable

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    Default Nearly Half a Million U.S. Homes Are About to Become Unaffordable

    I really didn't know anything about this.

    With millions of working-class Americans already facing a severe housing crisis, the next decade could spell another tremendous shock for the rental market. That's thanks to the Low Income Housing Tax Credit, or LIHTC, which has helped to create approximately 3 million affordable housing units over the last 30 years.

    A new report shows that nearly half a million of these units are set to hit the end of their 30-year affordability requirements by 2029 and low-income renters everywhere could soon find themselves in a precarious position, once more displaced by a housing market that's only become more volatile since the 2008 financial crash.
    “I think tenants in these properties don't even know that this is happening, because there's not a whole lot written into the LITHC program,” Brodfuehrer said. “There just isn't a whole lot being done proactively to address these issues before they happen, and if tenants are given notice early enough they can start pushing things so a solution can be put in place.”
    Nearly Half a Million U.S. Homes Are About to Become Unaffordable

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    Default Re: Nearly Half a Million U.S. Homes Are About to Become Unaffordable

    Quote Originally Posted by ABFwife View Post
    Big problem......Money for houses does not come from the service oriented consumer economy.......cheap junk took priority over wages......and the manufacturers which lost their jobs to overseas had money for houses..........now we have a lot of cheap junk but no good union manufacturing jobs to be able to buy homes with..........and now rent will also go up? Chaos seems to be on the horizon...............DC never should have let economists tell them that profits over people is the best way to go.......of course a lot of the initial pushers of it and profiteers of it are passed away but still in dc there are politicians trying to cash in before all hell breaks loose...it's coming if we don't change course. And the answers are???? Organize fast foods? Give out free money to every citizen????// Automate everybody out of work???? It's looking like seriously BIG problems are gonna come......
    Last edited by slavenomore; 11-02-2018 at 10:04 PM.
    ABFwife likes this.

  3. #3
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    Default Re: Nearly Half a Million U.S. Homes Are About to Become Unaffordable

    Quote Originally Posted by slavenomore View Post
    Big problem......Money for houses does not come from the service oriented consumer economy.......cheap junk took priority over wages......and the manufacturers which lost their jobs to overseas had money for houses..........now we have a lot of cheap junk but no good union manufacturing jobs to be able to buy homes with..........and now rent will also go up? Chaos seems to be on the horizon...............DC never should have let economists tell them that profits over people is the best way to go.......of course a lot of the initial pushers of it and profiteers of it are passed away but still in dc there are politicians trying to cash in before all hell breaks loose...it's coming if we don't change course. And the answers are???? Organize fast foods? Give out free money to every citizen????// Automate everybody out of work???? It's looking like seriously BIG problems are gonna come......
    I would have to agree and I don't think those serious problems are very far into the future.

 

 

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