Affordable Housing Crisis

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Affordable housing in the United States describes sheltering units with well-adjusted housing costs for those living on an average, median income. The phrase usually implies to applied rental or purchaser housing within the financial means of lower-income ranges specific to the demographics of any given area. However, affordable housing does not include those living in social housing owned by government and non-profit organizations. More specifically, the targeted range for housing affordability sets below 30 percent of a household's annual income, including all applicable taxes, utility costs and home owners insurance rates. If the mean income per household breaches the 30 percent mark, then the agreed status becomes labeled as "unaffordable" by most recognizable financial institutions. U.S. Department of Housing and Urban Development (HUD): Affordable Housing HUD User Publications Organization: Affordable Housing Assisted Housing Alert: Section 8 Low-Income Housing Alliance for Healthy Homes: Crisis in Affordable Housing WATCH: Community Development Program: Affordable Housing Development CommonBond Communities: Applying for CommonBond Affordable Housing National Association of Realtors: A Field Guide to Low-Income Housing Neighbor to Neighbor Organization: Affordable Housing Program National Low-Income Housing Coalition: Affordable Housing Placement Program U.S. Census Bureau: State Median Income Statistics Alliance for the Betterment of Citizens with Disabilities: Housing Terms and Facts Technical Assistance Collaborative, Inc.: Affordable Low-Income Housing for Disabled Persons Homelessness Resource Center: Providing Affordable Low-Income Housing for Those in ... ... middle of paper ... ...cially since the beginning of the subprime mortgage crisis that sparked the Great Recession of 2008-2009. The ever-growing unemployment and foreclosure rates will further compound the affordable housing shortages that were already existent. The declining of the middle-class and increasing of the wealth gap continues to raise the question over income inequality and racial disparity. Bright minds have to wonder when the government will step in to curtail the problem currently spiraling out of control. Homes and Community Renewal: Office of Rent Administration and Services CBS News: Housing Crisis Getting Uglier in 2010 CATO Institute: Thinking Clearly About Economic Inequality Harvard Business Review: Bridging America's Income Gap U.S. Department of New Hampshire: WorkForce Housing Law U.S. Department of Indiana: Why are People Homeless?

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