Trump's budget proposal is bad news for housing across the nation
The White House unveiled its much anticipated budget proposal today. It shows deep cuts to important agencies, including a more than $6 billion decrease in funding to the U.S Department of Housing and Urban Development (HUD). More than 75 percent of the agency’s budget goes to helping families pay their rent. Thus, these cuts would have a negative impact on thousands upon thousands of poor and working class households.........
A new report from the National Low Income Housing Coalition shows that the private sector is not capable of providing decent homes to a large proportion of poor and working class households on its own. The report finds that the nation has a shortage of more than 7 million affordable homes for extremely low-income households. This means that two out of three extremely low-income households pay a very large proportion of their income on housing. Indeed, more than 70 percent of these households pay more than half their income on rent and utilities. Every household that loses its rental voucher is at risk of becoming homeless.
Public housing and homeownership
The Post also reported that the preliminary budget called for big cuts to public housing across the nation. Like vouchers, public housing serves those on the edge of homelessness. Public housing projects have been underinvested in for decades leading to many thousands of units being taken out of service. Making public housing units habitable is a very affordable way to increase the housing supply for low-income households. Failing to do so is also a sure way to increasing the homeless population.
The budget out today shows a cut of more than $1 billion to what the White House calls “lower priority programs,” including the HOME Investment Partnerships Program, Choice Neighborhoods, and the Self-Help Homeownership Opportunity Program. These programs provide vital housing assistance on the local, state, and national levels.
http://thehill.com/blogs/pundits-blog/economy-budget/324211-how-trumps-budget-cuts-could-affect-housing-for-thousands
Wish I had some good news to post, but there doesn't seem to be any.
= new reply since forum marked as read
