The affordable housing shortage in the United States was put in stark terms in October when Freddie Mac reported that homes available to very low-income Americans dropped by more than 60 percent in just six years between 2010 to 2016.
The units, developed for people who make less than 50 percent of the area median income, have began to run short because of rising rents, stagnant wages, and fluctuations in federal programs that subsidize housing.
To affordable housing advocates, it’s a clear signal that the country can hardly sustain a disruption to the construction of new affordable housing. Yet that’s what the Trump administration’s tax reform proposal — highlighted by a corporate income tax cut from 35 to 20 percent — risks doing if the tax incentives big banks receive to invest in affordable housing projects are weakened.
Read entire story here.https://www.curbed.com/2017/11/2/16586570/tax-reform-affordable-housing