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Voters in Colorado approved a statewide affordable housing initiative in November; while voters in nine cities across the country OK’d measures to finance the construction of affordable housing, preserve existing rental properties and support renters. But as housing costs soar, analysts and advocates say more needs to be done and argue that federal action is needed.
Voters in Colorado approved a statewide affordable housing initiative in November, while voters in nine cities across the country OK’d measures to finance the construction of affordable housing, preserve existing rental properties, and support renters. But as housing costs soar, analysts and advocates say more needs to be done and argue that federal action is needed.
Higher building costs, a shrinking supply of low-cost rental units and more people with higher incomes choosing to rent rather than buy are driving the increase in higher-priced rentals and corresponding decline in low-cost units, according to a 2020 report from the Joint Center for Housing Studies of Harvard University.
Higher building costs, a shrinking supply of low-cost rental units and more people with higher incomes choosing to rent rather than buy.
Voters supported funding for affordable housing initiatives in the fall elections and advocates say Congress should do the same