The Hill, January 3, 2024, It’s Time For Congress To Address The Affordable Housing Crisis
From coast to coast, the foundation of a thriving community is affordable housing. Making sure hardworking families have a safe and reliable place to live is essential to economic growth and to quality of life. Unfortunately, a chronic lack of supply and soaring demand has deepened America’s affordable housing shortage. This has been a serious issue for years but has been transformed into a crisis by recent events such as the COVID-19 pandemic, supply chain difficulties, rising interest rates and inflation. With over 11.6 million households nationwide paying more than half their monthly income on rent, too many families must choose between paying rent and other essentials such as food, gas or medicine. At the end of 2022, our country was 3.8 million homes short of meeting the general housing needs of Americans and 7 million homes short of housing for extremely low-income renters.Â
