Affordable Housing stalls construction
Thursday, October 8, 2009 | Add a comment
Tougher Federal Housing Administration standards and low investor interest in the Housing Tax Credit program has stalled construction of affordable housing according to an article from Jamie Hopkins of the Baltimore Sun. It’s still difficult to get potential home-buyers financing.
“This is a national tragedy,” said Judith A. Kennedy, president and chief executive of the National Association of Affordable Housing Lenders.
Community development leaders and Affordable Housing partners have been lobbying Congress to change tax rules. At one time everyone was able to qualify for a loan whether they qualified or not and now the consumers in the middle are the one’s being turned down and the most affected.
