Rising home prices and rents are creating an affordable housing crisis in America, and it’s been a rough few months for the effort to combat it. First, Congress passed a tax bill in December that neuters the Low Income Housing Tax Credit (LIHTC) program, with one study suggesting it could lead to 235,000 fewer affordable housing units produced over the next 10 years. Then, on Monday, the Trump administration released a budget proposal that eliminates the annual $4 billion in federal block grants that the Department of Housing and Urban Development (HUD) distributes to address affordable housing.
Source: Curbed