The Pandemic Threatens The Already Vulnerable Affordable Housing Crisis
The perfect storm of affordable housing crisis is brewing right now: a threat made up of the already low supply that is hitting the increasing post-pandemic demand head on.
Before the pandemic, supply was an issue. The National Low Income Housing Coalition published the GAP report in late 2019 that shows a shortage of seven million affordable homes for low-income households at or below the poverty guidelines, or 30% of the area median income. So, now, those already taxed supply issues are being further pressured by the pandemic.