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- Title
US Affordable Rental Housing Policy Either Doesn't Make Any Sense or Is Working as Intended.
- Authors
AUSTIN, ALGERNON
- Abstract
Affordable rental housing policy in the US has consistently failed to provide sufficient affordable housing, with an increasing number of renters spending a significant portion of their income on housing costs. The primary policy, the Low-Income Housing Tax Credit (LIHTC), is not effective at creating affordable rental housing and often requires additional subsidies. Furthermore, LIHTC rentals typically convert to market rate after a certain period, exacerbating the shortage of affordable housing. While the current policy benefits corporations and investors, there are alternative models, such as social housing in Europe and Asia, that could provide affordable housing for renters. Efforts are being made to explore these models and repeal the Faircloth Amendment to construct affordable social housing.
- Subjects
HOUSING; RENTAL housing; HOUSING policy; LOW-income housing; PUBLIC housing
- Publication
CounterPunch, 2024, p1
- ISSN
1086-2323
- Publication type
Article