John McMullen
New NLIHC Report Highlights Persistent Housing Affordability Challenges for Low-Wage Renters
On July 14, the National Low Income Housing Coalition (NLIHC) released "Out of Reach 2021: The High Cost of Housing," its annual report documenting the gap between renters' wages and the cost of rental housing across the nation. NLIHC's 2021 report concludes that the profound economic downturn caused by the COVID-19 crisis had a significant impact on the lowest-wage households, exacerbating the disconnect between wage growth and rental cost increases.
New Harvard Housing Study Highlights Affordability Challenges Amidst Post-Pandemic Economic Recovery
On June 16, Harvard University’s Joint Center for Housing Studies released its 2021 State of the Nation’s Housing report. The report finds that, as the economy recovers from the impact of the COVID-19 pandemic, some households are taking advantage of historically low interest rates to purchase homes with savings built during the health crisis, while others have been locked out of opportunities to own as prices increase to meet demand. Moreover, renters and homeowners are grappling with billions of dollars in back rent owed, unpaid mortgages, and the growing risk of eviction and foreclosure.
HUD Secretary Nominee Marcia Fudge Pledges to Work with Congress to Address Affordable Housing
The Senate Banking Committee yesterday held a hearing on the nomination of Representative Marcia Fudge (D-OH) to serve as Secretary of the U.S. Department of Housing and Urban Development (HUD). Fudge’s written and oral testimony highlighted that she understands and is ready to address the housing challenges facing HUD and the country, including the lack of housing affordability and the instability of renters and homeowners exacerbated by COVID-19.
COVID-19 Worsens Longstanding Rental Affordability Challenges According to New Harvard Report
On November 19, Harvard University’s Joint Center for Housing Studies (JCHS) released its 2020 State of the Nation’s Housing report. The report finds that, despite low interest rates and continued growth in some sectors, the health and economic consequences of COVID-19 coupled with racial tensions and climate change across the nation have exacerbated the rental supply and affordability crises.
NLIHC Report Finds Pandemic Further Increases Housing Instability Risk for Low-Wage Renters
On July 14, the National Low Income Housing Coalition (NLIHC) released "Out of Reach: The High Cost of Housing," its annual report documenting the gap between renters’ wages and the cost of rental housing across the nation. NLIHC’s 2020 report concludes that the economic downturn spurred by the coronavirus further increases the risk of housing instability for millions of low-wage renters who were struggling to make ends meet before the pandemic.
Mayors Press Congress to Enact 4 Percent Minimum Rate, Lower 50 Percent Test in the Next Coronavirus Relief Legislation
On June 1, 67 mayors representing communities across 28 states and the District of Columbia sent a letter to House and Senate leaders urging Congress to establish a minimum 4 percent rate for bond-financed properties and lower the “50 percent test” financed-by threshold that bond-financed Credit properties must meet to receive 4 percent Housing Credits in the next coronavirus relief legislation. Mayors from both parties signed the letter. The letter was coordinated by the ACTION Campaign, a coalition of more than 2,300 organizations and businesses across the nation co-chaired by NCSHA and Enterprise Community Partners.
