Posted To: MND NewsWire
The statistics are no surprise. The Urban Institute says for every 100 extremely low income households there are only 29 adequate, affordable, and available rental units. A two parent household with both parents working minimum wage jobs might have to wait years to find a safe and affordable place to raise their two kids. So why, the Institute asks, with demand so great, are developers not racing to build affordable apartments? Well, that is no surprise either. There is too little money in it. The cost to build and maintain housing is typically too high to be offset by the rents potential tenants can afford to pay. The gap becomes even greater as the target population of renters drops down the income scale. The rent the poorest families can pay may not be enough to cover the operating expenses...(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/2a9dSlX
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