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Section 8 (housing) Section 8 of the Housing Act of 1937 (42 U.S.C. § 1437f), commonly known as Section 8, provides rental housing assistance to low-income households in the United States by paying private landlords on behalf of these tenants. Approximately 68% of this assistance benefits seniors, children, and individuals with disabilities. [1]
Since about 1970, California has been experiencing an extended and increasing housing shortage, [1]: 3 such that by 2018, California ranked 49th among the states of the U.S. in terms of housing units per resident. [2]: 1 [3] This shortage has been estimated to be 3-4 million housing units (20-30% of California's housing stock, 14 million [4 ...
Most resident are low-income, which causes many to devote most of their time and income to rent. Individuals with a high rent burden are described as any renters who dedicate more than 30 percent of their income to paying rent; in Cambodia Town, 62 percent of renters have a high rent burden. [ 4 ]
The federal government, through its Low-Income Housing Tax Credit program (which in 2012 paid for construction of 90% of all subsidized rental housing in the US), spends $6 billion per year to finance 50,000 low-income rental units annually, with median costs per unit for new construction (2011–2015) ranging from $126,000 in Texas to $326,000 ...
The Century Housing Corporation, often called Century Housing or simply Century, is a Culver City, California -based private, nonprofit lender to developers building affordable housing targeting low- and moderate-income wage earners. Founded as the Century Freeway Housing Program in 1979, Century Housing and its predecessor have financed more ...
If housing is too expensive, policymakers must address the issues driving up costs. The Low-Income Housing Tax Credit, like so many other policies, merely throws taxpayer money at the problem. It ...
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