Affordability, Public Housing and Homelessness

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Affordability, Public Housing and Homelessness

Affordability: An estimated 12 million households now pay more than 50 percent of their annual incomes on housing, and a family with one full-time worker earning the minimum wage cannot afford the fair-market rent for a two bedroom apartment anywhere in the U.S., according to the Dept. of Housing and Urban Development (HUD).
[zFacts Graph: Housing Costs Rise Twice as Fast as Inflation in 2003]

Section 8: The Administration's proposed funding cuts and policy changes to the housing voucher program, also known as Section 8, will result in widespread program cutbacks and put hundreds of thousands of poor families at risk.

Public Housing: The Bush administration has twice proposed the elimination of the HOPE VI program, which since it began in 1992 has provided for the revitalization of more than 20,000 severely distressed public units, as well as the demolition of another 63,000 severely distressed units.

Homelessness: Rough estimates indicate that 1% of the American population experiences homelessness every year, with the number of homeless individuals rising every year.

Fair Housing: More than 35 years after the passage of the Fair Housing Act, there is still widespread discrimination against minorities and disabled individuals in the housing rental, sales, lending and insurance markets.

SEE ALSO:
• LIHTC: The Low Income Housing Tax Credit

http://zfacts.com/p/578.html | 01/18/12 07:28 GMT