Affordable housing initiatives have stalled with the collapse of the market in tax credits which fund construction. Advocates are resting their hopes in the stimulus bill to turn things around.
"With the whole housing market in a deep freeze, it's perhaps not surprising that fewer low-income units – which require huge subsidies to get built even in flush times – are being constructed. But the slowdown is happening at a time when rising foreclosures are forcing more people into the rental market.
The problem stems from the fact that the primary mechanism for expanding housing for the poor – tax credits – has collapsed. These credits, though little known, are responsible for financing as much as 70 percent of the cost of constructing new low-income housing.
The stimulus bill being debated this week in the US Senate does just that. So far, it would grant $2 billion to be distributed to individual states to fill affordable-housing financing gaps. Under the House version of the bill, the US government would buy a portion of credits that developers couldn't sell, in the hope that would be enough to get construction moving again."
FULL STORY: Affordable housing hits a wall in time of rising need
The 'INVEST in America Act' Would Help States Kick the Highway Habit
While Congress debates its bipartisan infrastructure deal, a House-approved bill, the INVEST in America Act, waits in the wings with the potential to alter the direction of transportation planning in the United States.
Updated: Strong Towns: Bipartisan Infrastructure Bill Would 'Make our Infrastructure Crisis Worse'
To some, the agreement promises too much funding for traditional infrastructure programs rather than 'adaptations and innovations.'
Direct Payment, Rent Relief, Homelessness Funding in Expanded 'California Comeback Plan'
Nearly 6 million Californians will receive $600 in economic stimulus checks as the state makes a plan to spend its surprise, massive budget surplus. $2.6 million for rent relief and $2 billion to pay utility bills are also planned.
Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
National Parks Layoffs Will Cause Communities to Lose Billions
Thousands of essential park workers were laid off this week, just before the busy spring break season.
Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50
A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.
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Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
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