- Cost Segregation Expert and Investor
- Lakewood, NJ
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U.S. Housing Starts Fell 4.0% in July - WSJ
I came a cross a recent article in the WSJ
Workforce multifamily housing for people between 80-120% of Area Media Income is probably the most needed type of housing in America, yet given land costs and construction costs, it is really difficult to make a deal work without government or non-profit type subsidies.
WSJ says in this recent article that "despite historically low mortgage rates and rising wages, the housing sector has been strained by a low inventory of affordable homes propelled by rising construction costs and lack of land."
Even though this article was referencing single-family home inventory, the same is true for multifamily housing. Perhaps a different tax credit program other than the low-income housing tax credit program should be established to address this increasing need, yet that type of program would be a drop of sand in the ocean regarding the overall need for it.
Thoughts?
