Updated over 1 year ago on . Most recent reply
Will Section 8 Survive?
Bloomberg just published this article which should be concerning for any landlords accepting Section 8 vouchers.
If you don't have access through the paywall, here is an excerpt:
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For Americans who rely on so-called Section 8 housing choice vouchers, the first weeks of the second Trump administration have brought a whirlwind of uncertainty.
The 50-year-old Housing Choice Voucher program is the federal government’s largest form of assistance for low-income families. Administered by the US Department of Housing and Urban Development, it provides rental assistance for some 2.3 million qualified households annually. The program is not an entitlement: Only about a quarter of the households who qualify can access the vouchers. Many spend significant time on waitlists, and the program has struggled to keep up with skyrocketing rents.
Now voucher users and their housing providers are facing fresh challenges, in the form of proposed workforce cuts at HUD and important discussions on Capitol Hill that stand to slash the number of people who can receive Section 8 assistance....
“If you receive federal assistance, that’s really scary,” said Deborah Thrope, deputy director of the legal advocacy organization National Housing Law Project. “There’s a lot of fear right now among federally assisted residents and HUD tenants that the rent is not going to get paid.”