HUD announced a newpolicy designed to help hundreds of thousands of low-income families keep pace with America'sbooming economy.
The new policy will increase the pool of apartments affordable to families receivingfederal housing vouchers by 25% or more than 1.4 million units nationwide.Over the past three years, rents have risen more than one-and-a-half times faster than inflation andtwice as fast in some markets. According to HUD's State of the Cities 2000 report, "rather thanbenefiting from the surging economy, low-income renters are left to compete for a dwindling supply of affordable rental housing on the private market." Some recipients are being forcedto return their vouchers because they can't find an apartment that qualifies under HUD's current rentguidelines.
Thanks to Abhijeet Chavan
FULL STORY: HUD No. 00-223
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