Americans are left without affordable housing — due to the coronavirus to the crisis the construction of affordable houses in the country has slowed, because the funding is sharply reduced. Banks are also reluctant to lend to new projects, says Bloomberg.
According to the President of the Corporation for the conservation community Rafael Cestero for the first time in 30 years of his career on 30 June there were no one deals with economy-class housing. This date is the first day for the conclusion of real estate transactions in new York, the end of the fiscal year, so developers are rushing to sign the papers and get to work.
Cestero warned about the impending mass eviction of tenants who have nothing more to pay the rent, and also stressed that if the government will not help the industry or not to extend unemployment benefits, then the US would face a bigger crisis than at the present time.
According to the National coalition of affordable housing (NLIHC), the country lacks more than seven million homes to tenants with extremely low income. The construction of single family homes in some areas near new York worth 700 thousand dollars.
In the city at the moment lacks 650 thousand units of affordable housing, but this figure is projected within one year after the pandemic will rise to 760 thousand.
the state Program also does not solve the problem completely. Federal housing assistance receives an average of only one household out of four in need. To resolve the issue, you want 100 billion dollars from the state, but in the long run it will not help either.
“People think that the current crisis unemployment is bad. But if we get in a huge housing crisis, it will be further devastating,” said Cestero.
