costs create a difficult decision as to whether to stay in Palm Beach County, given that wages are lower and housing costs higher than other regions in the US. High relative housing costs and tightening first-time home ownership opportunities can hamper regional talent retention, posing a threat to its sustainability and long-term prospects for advanced regional economic development in high-wage, high skill sectors. Lastly, numerous researchers have documented the local costs of income insecurity — that families with uncertain income prospects, or at risk of catastrophic personal financial events (job loss, health care costs, etc.) create rising public costs which are increasingly being forced on state and local governments. The pull-back of federal funding for housing has been a nearly continuous trend since the 1980’s, meaning that strategic planning, program development, administration, and funding is increasingly the responsibility of local governments. If for no other reason than to avoid growing unrecoverable local costs, local governments are well-advised to develop sustainable affordable housing policies and strategies. Creating new opportunities for better paying jobs and higher household incomes is also the key to solving Palm Beach County’s long-term affordable housing issues. Implementing a coherent affordable housing delivery system should, therefore, be an opportunity to accomplish the multiple goals of affordable housing delivery and new job creation. The COVID-19 pandemic has intensified this point. The post-COVID environment necessitates that communities incorporate this lens for assessing the pandemic’s existing and future affordable housing and economic impacts.
Summary of Key Findings: The following “Summary of Key Findings” from the Affordable Housing Needs Assessment is intended to provide local officials, business leaders, nonprofit organizations, and philanthropists with discussion points on the most critical findings and issues identified in the research assessment. The value in the Affordable Housing Needs Assessment is its potential to provide clarity on Palm Beach County’s affordable housing issues and needs and provide evidence for consensus-building for policy direction and action. An aggressive planning and policy response are necessary to confront the harsh short- and long-term social and economic impacts of the COVID-19 pandemic. The COVID-19 Community and Economic Impacts The COVID-19 pandemic has become front and center to the affordable housing needs of Palm Beach County and all 39 municipalities. The economic and community impacts are severe and will likely endure well into the future. The pandemic has affected all segments of the community but has been particularly harmful to those in the most vulnerable situations, including minority populations, service workers, individuals and families living in poverty, undocumented immigrants, the elderly, and persons with disabilities. Early evidence indicates the health, economic and community impacts of the coronavirus are being borne disproportionately by these population groups. Low wage, service workers in food store chains, hospitals and clinics are also highly exposed to the danger of the virus and associated community and economic impacts. This will
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