Small Loans Offer Big Impact on Affordability

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Posted To: MND NewsWire

Affordable housing isn’t just a problem in high cost places like New York City and San Francisco according to a new study by the Urban Institute (UI) and the Federal Reserve Bank of Chicago. The creation of millions of new households every year will create more demand for housing than the nation is providing , and that will mean prices will rise even higher and faster. The study, authored by UI analysts, Sarah Strochak, Bing Bai and Alanna McCargo and Taz George of the Federal Reserve says that the affordable housing crisis is usually associated with high rents and a limited inventory of housing, both new and existing, at the lower price end of the market. Since construction cannot be ramped up fast enough to fill the gap, existing homes must be made more available to potential homeowners….(read more)

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