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If the housing market is brutal for real estate professionals and home builders, it’s even more challenging for affordable housing developers that are already trying to keep costs low for renters while also ensuring projects are financially feasible.
The U.S. housing market is in the midst of a painful contraction after 2022 brought a volatile end to about two boiling hot years.
The Jackson Apartments, built in the 1910s, were severely damaged by the 2020 earthquake. But they will continue to serve elderly residents for decades to come.