As city leaders pointed out with the release of NLC’s Housing Task Force report, American cities, towns, and villages are experiencing a severe shortage of housing for low-income residents. According to a new report from Harvard University’s Joint Center for Housing Studies, the supply of low-rent housing units has declined significantly since 2011. In all, approximately 4 million housing units renting for less than $800 per month have been lost, three-quarters of which vanished between 2014 to 2017. Each year, many of these affordably priced homes become unavailable to low- and extremely low-income families due to conversions from rental to ownership units or deterioration, or because expiring subsidies make affordable rentals eligible to be re-positioned as market-rate housing. Follow this link to read more.
Sourced from: Cities Speak