Housing Affordability by Mariah Aleaze Hernandez

(2008) The 2008 Housing Crisis

hernandezmariahaleaze — 2025-03-20 15:01:56 UTC

The 2008 housing market crash, fueled by the subprime mortgage crisis, caused a sharp decline in housing prices nationwide, leading to widespread foreclosures. This took place during President George W. Bush's presidency.

(2009-2010) Acts Put in Place to Combat Housing Issues Under Obama Administration

hernandezmariahaleaze — 2025-03-20 15:06:59 UTC

When Obama was elected, he signed off on several acts and reforms to combat the issues caused by the 2008 Housing Crisis. Some of these were the Economic Recovery Act of 2009, the Dodd-Frank Wall Street Reform, and the Consumer Protection Act of 2010.

(2019-2020) Housing Assistance During the Pandemic

hernandezmariahaleaze — 2025-03-20 15:09:42 UTC

Many programs and acts were started and issued to help people facing housing struggles during the COVID-19 Pandemic. This included the Emergency Rental Assistance Program and the American Rescue Plan Act.

(2023) Housing Shortage and the Rising in Demand for Housing

hernandezmariahaleaze — 2025-03-20 15:14:42 UTC

After the end of quarantine and the pandemic, the demand for housing began to rise. However, construction issues caused by the pandemic prevented these rising housing demands from being immediately met. This low supply and high pricing still affect the housing market today.

(2025) Tariffs on Building Materials and Rising Housing Prices

hernandezmariahaleaze — 2025-03-20 15:18:14 UTC

It has been said that tariffs placed on construction materials such as lumber. Have
increased construction costs and discouraged new developments. Additionally,
consumers end up paying for these tariffs in the form of higher home prices.

Expanding Government Assistance and Legal Protections

hernandezmariahaleaze — 2025-03-25 16:06:16 UTC

Advocates for increased government intervention argue that systemic inequalities in housing require more action from the government through policies that ensure affordability. Said advocates support various measures such as rent control, increased federal funding for affordable housing, and legal advocacy programs to protect tenants from eviction.

How does rent control affect housing affordability?

hernandezmariahaleaze — 2025-03-30 04:26:38 UTC

Rent control essentially prevents landlords from unfairly raising rent however, some negative results from rent control include low property values and reduced housing supply.

hernandezmariahaleaze — 2025-03-30 04:40:54 UTC

Federal programs for affordable housing

hernandezmariahaleaze — 2025-03-30 04:44:46 UTC

This website explains key steps the federal government has made toward the affordable housing issue such as low-income housing tax credits, tenant and project-based rental assistance programs, and public housing.

Market-Based Solutions and Deregulation

hernandezmariahaleaze — 2025-03-31 03:13:58 UTC

Another perspective emphasizes free-market solutions to the housing crisis. Advocates who share this position argue that reducing zoning restrictions, increasing the housing supply, and providing tax incentives for developers can lower housing costs without the need for excessive government intervention.

The Housing Affordability Data System (HADS)

hernandezmariahaleaze — 2025-03-31 03:19:07 UTC

The HADS provides historical data that suggests that supply shortages play a significant role in affordability issues. Market-driven approaches propose that reducing regulatory barriers will encourage construction and competition, ultimately making housing more affordable.

Reducing Zoning Restrictions

hernandezmariahaleaze — 2025-03-31 03:27:14 UTC

Some properties have zoning restrictions that prevent certain types of housing from being built. For example, an area that has a zoning restriction that only allows single-family homes to be built can prevent other housing from being built, ultimately limiting possible business and deterring developers who may not want to be restricted to just building single-family homes.

hernandezmariahaleaze — 2025-03-31 03:29:51 UTC

Legal and Tax Reforms to Support Renters

hernandezmariahaleaze — 2025-03-31 03:39:15 UTC

Another position focuses on legal reforms and tax policies to assist renters and prevent homelessness. Advocates for this position argue that existing housing aid programs, such as House Choice Vouchers, do not reach enough eligible renters. A proposed solution, as discussed in an article from the Journal of Affordable Housing & Community Development Law, is the implantation of a federal Renter Tax Credit, which would provide financial relief to rent-burdened households. This approach aims to complement existing subsidies while reducing eviction risks and improving economic stability.

hernandezmariahaleaze — 2025-03-31 03:43:49 UTC

Why do rental assistance programs not reach enough eligible renters?

hernandezmariahaleaze — 2025-03-31 03:54:04 UTC

As rent costs rise, the cost of serving existing voucher recipients has grown. This leaves very limited resources for additional low-income households to receive the benefits of the program.

Renter Tax Credits

hernandezmariahaleaze — 2025-03-31 04:06:52 UTC

Some countries do already have renter tax credits in place, however landlords must register in order for renters to be eligible.

In Texas, there are housing credits that allow residencies to be leased to qualified families at under-market rate rents.