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Why Developers Need to Advocate for Affordable Housing | Lane Lowry | Real Estate Development
a Why Developers Need to Advocate for Affordable Housing by Lane Lowry | Mar 26, 2021 | lane lowry, Real Estate Development
Affordable housing is a term that means attainable by lower or middle-income families, as rated by the official Housing Affordability Index. According to the U.S. government, housing should cost no more than 30 percent of a household’s monthly income. People who fall within the low to medium income range require housing they can afford while still having money for other life necessities such as food, health care, and transportation. The National Low Income Housing Coalition (NLIHC) educates both lawmakers and the public about the necessity for affordable homes throughout America. Their focus is on preserving existing federally-aided housing resources and expanding low-income housing projects. The benefits of embracing affordable housing development are numerous. The ROI is consistent in the form of rent, social service costs are lowered because it helps break the poverty cycle through social programs, and developers can opt to defer a portion of the https://lanelowry.co/why-developers-need-to-advocate-for-affordable-housing/
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