Tags Affordable housing industry
Tag: affordable housing industry
With the Trump regime pushing for a massive $6.2 billion to $6.8 billion in budget cuts for the Department of Housing and Urban Development (HUD), so-called nonprofit affordable housing developers see the writing on the wall and are jacking up the rents on the poor, elderly and disabled renters in their projects as fast as they can, before the budget cuts take effect. The fiscal year (FY) 2018 budget detailing the cuts was released May 23.
Public housing is home to over 1.2 million families across the nation, mostly the elderly, disabled and low-income women with children. The Bay Area is home to thousands of them. In an effort to save public housing in Oakland, Richmond, San Francisco and nationwide, Congresswoman Maxine Waters, D-Calif., wrote a letter to President Obama on Dec. 10 condemning the Rental Assistance Demonstration program, or RAD.
Because the Democrats joined the Republicans in allowing the sequestration budget cuts to continue in the latest political deal known as a “continuing resolution” that ended the government shutdown on Oct. 16, it appears to be a very grim situation for Section 8 voucher holders in cities all across the nation. Housing officials claim that 140,000 voucher holders are at risk of losing their vouchers because of the sequestration budget cuts.