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ABSTRACT: Much of the nation's rental housing is affordable to low income families as a result of local, state and national government subsidy programs that help to keep rents low. Property owners receive incentives such as rent subsidies and below market interest rate loans in exchange for keeping rents affordable to low income households for a designated period of time (Center for Housing Policy, 2008). These properties are subject to regular inspections during the designated period of time to ensure that they continue to provide quality housing to their tenants. Physical deterioration is a problem for the subsidized rental housing stock, since it can render a building uninhabitable or force an owner to raise the property's rents in order to rehabilitate the building. If a property fails an inspection, subsidies and below market interest rate loans attached to the property can be withdrawn, forcing the owner to sell the property or raise rents to market rate. Additionally, as a property's contract to provide affordable housing expires, an owner can choose to opt out of the subsidy program and raise their rents to market rates (Center for Housing Policy, 2008).
From Los Angeles to Boston and Chicago to Miami, US cities are struggling to address the twin crises of high housing costs and household instability. Debates over the appropriate course of action have been defined by two poles: building more housing or enacting stronger tenant protections. These options are often treated as mutually exclusive, with support for one implying opposition to the other. Shane Phillips believes that effectively tackling the housing crisis requires that cities support both tenant protections and housing abundance. He offers readers more than 50 policy recommendations, beginning with a set of principles and general recommendations that should apply to all housing policy. The remaining recommendations are organized by what he calls the Three S’s of Supply, Stability, and Subsidy. Phillips makes a moral and economic case for why each is essential and recommendations for making them work together. There is no single solution to the housing crisis—it will require a comprehensive approach backed by strong, diverse coalitions. The Affordable City is an essential tool for professionals and advocates working to improve affordability and increase community resilience through local action.
Pursuant to a legislative requirement, GAO reviewed Department of Housing and Urban Development (HUD) section 8 housing subsidies, focusing on the effects of basing rental subsidy payments on smaller market areas. GAO found that: (1) establishing fair market rents on the basis of smaller market areas would more closely reflect rents within those areas and increase housing choices for assisted households; (2) the cost of collecting the additional data needed to accurately determine and update fair market rents could range up to $750 million annually; (3) individual household costs could increase and fewer households will be served by the Section 8 program unless HUD increases the program's total funding; (4) HUD costs could increase if assisted households move from market areas where the fair market rents are the most advantageous; (5) the decrease in fair market rents could restrict assisted households' housing choices; (6) using smaller market areas to set fair market rents may have little effect on households' access to employment or educational opportunities because public transportation is available in many areas; (7) there is insufficient evidence to estimate whether setting fair market rent levels on smaller markets would have an inflationary effect on marketwide rental rates; and (8) the presence of a housing subsidy does not increase rents for the market as a whole.