An expanded housing voucher program is needed to address the medium- and long-term economic consequences of COVID-19.
The COVID-19 crisis has thrown light on the fragility of millions of American families for whom a missed paycheck forces a decision between paying rent and buying food. An eviction moratorium will help temporarily but will not solve the long-term housing problems associated with COVID-19. Temporary rent subsidies, similarly, would help only for a short time. The economic disruption of COVID-19 cannot be reversed overnight; there will likely be high levels of unemployment for some time – at least months and potentially years. Even after people get back to work, low wages compared with rents will likely persist. This is what happened during the Great Recession; incomes fell faster than rents, leading to larger numbers of people with severe housing cost burdens. Rents generally cannot fall to the level needed to allow the lowest-income people to afford them. Landlords need enough rent to cover their mortgages and keep the housing in adequate condition.
Already before COVID-19, the affordability crisis was starting to get more attention. Some presidential candidates had proposals for expanding the Housing Choice Voucher program, which helps pay the rent in private market housing, including housing that a family may already occupy. Others have proposed rent subsidies that would operate through the tax system.
FULL STORY: Expanding Housing Choice Vouchers Would Strengthen the Safety Net
Depopulation Patterns Get Weird
A recent ranking of “declining” cities heavily features some of the most expensive cities in the country — including New York City and a half-dozen in the San Francisco Bay Area.
California Exodus: Population Drops Below 39 Million
Never mind the 40 million that demographers predicted the Golden State would reach by 2018. The state's population dipped below 39 million to 38.965 million last July, according to Census data released in March, the lowest since 2015.
Chicago to Turn High-Rise Offices into Housing
Four commercial buildings in the Chicago Loop have been approved for redevelopment into housing in a bid to revitalize the city’s downtown post-pandemic.
New Park Opens in the Santa Clarita Valley
The City of Santa Clarita just celebrated the grand opening of its 38th park, the 10.5-acre Skyline Ranch Park.
U.S. Supreme Court: California's Impact Fees May Violate Takings Clause
A California property owner took El Dorado County to state court after paying a traffic impact fee he felt was exorbitant. He lost in trial court, appellate court, and the California Supreme Court denied review. Then the U.S. Supreme Court acted.
How Urban Form Impacts Housing Affordability
The way we design cities affects housing costs differently than you might think.
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