Developers around have recently begun to make more affordable housing a priority, this is much to do with the existing inventory shortage that is making an impact around the United States. Many communities have fallen into an uncomfortable situation where costs are too high to afford a home, & with a lack of affordable housing an issue is brewing.
A rush to build new affordable housing has begun, which is advantageous to investors across the country. Investors are happy to allocate to a need that the US economy needs in an altruistic way. Investors are also excited that 25% of the rental income is covered by uncle Sam, making collecting rent even easier. There is an estimated 7 million affordable housing unit shortage needed in the US Economy for affordable housing currently.
Low-income households have consistently hit the news this year due to the rising cost of rent and consistent eviction rates. Housing is key to reducing poverty and increasing the flow of economic wealth in America. Increasing access for housing will not only help the economy but will also increase productivity for Americans. Supporting housing affordability is supporting the US economy & it seems investors are ready to answer the call.
This post is based on the opinion of writers at Real Estate Today