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| Jamie Woodwell |
WASHINGTON, D.C. (Feb. 19, 2015) — The Mortgage Bankers Association (MBA) today released
a research datanote entitled “Mind the Gap: A High-level Review of the Need for
— and Supply of — Affordable Multifamily Housing.”
The paper focuses on
multifamily rental housing because of the central role that sector plays in
providing affordable housing.
“There is a significant gap between the need for and the
supply of affordable housing in the United States,” according to Jamie
Woodwell, MBA’s Vice President of Commercial Real Estate Research.
“The
United States has a long history of housing needs, and a long history of
successful programs designed to address those needs.
"Even with these programs, however, millions of American
households face housing burdens because of low incomes, housing market
mismatches and/or specialty housing needs that are not naturally met by the
housing markets.”
The paper explores a variety of different mismatches between
incomes and housing costs. Most of these can be clustered into three broad
categories:
·
The housing needs of low and very low income
households, whose incomes are not enough to cover the costs of building and
maintaining safe and decent housing.
·
The need for moderate income “workforce housing,” and
the struggle to supply adequate affordable housing near job centers.
·
The housing needs of special populations, whose
particular housing requirements are not naturally met in full by the market.
These include seniors, veterans, disabled Americans, people
living with AIDS, and others.
The paper also provides a high-level review of efforts to
“close the gap” undertaken by multiple federal agencies and other institutions
to address and correct housing market mismatches. The Datanote can be
downloaded in full here:
For more information on the company, please
contact:
Rob Van Raaphorst
(202) 557-2799
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