Affordable housing and its advocacy is an interesting topic, especially working with someone who is a lobbyist for affordable housing. I thought this was really interesting since how many time do you hear or meet someone who is lobbying for a real worthwhile cause. All work with out the glamour and politics of D.C.
So what is affordable housing? Well housing costs that do not exceed 30 percent of households’ gross income can be regarded as affordable. Subsidies are provided by the government for affordable housing for homeowners. This is done by mortgage interest tax deductions and subsidy programs. These subsidies are classified into:
Tenant based subsidies known as section 8 program
Project based subsidies, which include section 8, section 236, section 202 (for elders) and section 221(d).
There is a map that shows median home values in the United States in 2005 and the home value growth from 2002-2005. Note that in only one state did the home values declined in these three years. Since this was prior to the housing market crash it would be interesting to compare and contrast the data from the crash.
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