Affordable Housing Becomes More Complex

LOS ANGELES-A recent report from the National Low Income Housing Coalition revealed a shortage of approximately 4.6-million affordable units throughout the country, based on the 10.1 million extremely low-income individuals in need of housing. Without affordable housing options, low-income families throughout the nation struggle to secure basic necessities such as food and transportation. While the need for affordable housing is greater than ever, a growing turbulence has emerged in the industry.

Today’s policy environment is being shaped by a widespread shortfall in the availability of funding for all public services. As communities are forced to choose between financing for a host of invaluable programs, there exists a general weakening of capacity for affordable housing development by the public sector and corresponding declines in the availability of public capital.   While the industry is reeling from significant cuts to funding programs at the local, state, and federal levels, municipalities are turning more and more to affordable housing as a vehicle to deliver other social services and public policies such as environmental sustainability.