The Affordable Home Crisis Continues, But Bold New Plans May Help
Our country is in the grips of a severe and pervasive housing affordability crisis. Nationally, there is a shortage of 7 million homesaffordable and available to the lowest-income renters. Rents have risen faster than renters’ incomes over the last two decades, and while more people are renting than ever, the supply of housing has lagged. Fewer than four affordable and available rental homes exist for every 10 deeply poor renter households nationwide. As a result, record-breaking numbers of families cannot afford decent homes.
The budget recently proposed by the Trump Administration would compound this crisis. As we pointed out in our public response to the budget proposal, the president would underfund rental assistance through the Housing Choice Voucher program, eliminate the national Housing Trust Fund and funding needed to repair public housing, and raise rents—by as much as three times current levels—on America’s poorest families. While the administration suggests its proposed budget would provide an increase in funding to the voucher program, this is simply false.