Washington, D.C. — As millions of Americans continue to face the longstanding challenges of housing insecurity—which have only been exacerbated by the COVID-19 pandemic—the Biden administration has worked to address the rising cost of rent and increase the supply of affordable housing. The Housing Supply Action Plan focuses on the supply side of available housing.
Today, the Center for American Progress released an issue brief that outlines how policymakers can build on the Housing Supply Action Plan to address the rental housing crisis and ensure access to affordable housing for low-income households.
The brief calls for immediate and long-term investments that will support low-income households, especially communities of color that are affected disproportionately by the affordable housing crisis. Specifically, the report recommends the following policy ideas:
- Boost the supply of affordable rental units in opportunity-rich neighborhoods.
- Increase housing voucher subsidies to ensure households receive the help they need in a timely manner.
- Expand renter protections so that those who have housing do not lose it, as eviction is often the catalyst for further economic instability.
“Policymakers have the tools and resources to ensure both greater supply of affordable rental units and better protections, financial and otherwise, for renters,” said Michela Zonta, senior policy analyst at CAP and co-author of the brief. “Policy inaction to address the affordable housing crisis adequately will only leave millions of American households vulnerable and unable to afford rent and other necessary expenses. Prolonging the pain in the rental market is not a viable approach.”
Read the brief: “The Rental Housing Crisis Is a Supply Problem That Needs Supply Solutions” by Ashfaq Khan, Christian E. Weller, Lily Roberts, and Michela Zonta
For more information on this topic or to speak to an expert, contact Julia Cusick at email@example.com.