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In his book-length study of St. Louis public housing policy, Eugene Meehan assessed the root cause as "a set of policies programmed for failure", [91] in particular the requirement of the Housing Act of 1949 that local housing authorities pay their expenses from rental income, which made them vulnerable to fiscal problems. [92]
The federal government, through its Low-Income Housing Tax Credit program (which in 2012 paid for construction of 90% of all subsidized rental housing in the US), spends $6 billion per year to finance 50,000 low-income rental units annually, with median costs per unit for new construction (2011–2015) ranging from $126,000 in Texas to $326,000 ...
Non-profit housing is owned and managed by private non-profit groups such as churches, ethnocultural communities or by governments. Many units are provided by community development corporations (CDCs). They use private funding and government subsidies to support a rent-geared-towards-income program for low-income tenants. [7] [8] [clarification ...
Many organizations cite the National Low Income Housing Coalition report "Out Of Reach" [7] which includes data maps to illustrate the mismatch between housing and incomes across the country. A 2010 report from the Washington, D.C. based non-profit Urban Land Institute entitled "Priced Out" is one example of in-depth study for a specific area.
Inventories are still too low: A balanced market typically has a 5- or 6-month supply of housing inventory. NAR says there was a 4.0-month supply of homes for sale in July (actually quite a big ...
The LIHTC, established in 1986, stands as a groundbreaking departure from the typical structure of supply-side housing programs, which primarily relied on subsidizing low-income housing. As of 2010, this innovative approach yielded the construction of 1.5 million low-income housing units. [33]