Reversing the Trend of Dwindling Affordable Housing Stock

March 31, 2008
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A recent follow-up to the National Low-Income Housing Coalition's study of national housing patterns indicates that in the four-year period from 2001 through 2004, more than 1.2 million housing units ceased to be affordable.

In some cities, such as New York, affordable housing is declining at an even faster rate. According to the Furman Center for Real Estate and Urban Policy, the number of New York City units that a family making $33,000 a year could afford fell by 205,000 between 2002 and 2005—an average annual loss of more than 50,000 units.

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