Max rents set by HUD cause the most affordable multi family projects to raise rents to those amounts which are unaffordable except for the fact many of those renters receive housing vouchers. This causes mid range properties and eventually high end properties to raise rents as well as they should be higher priced. Housing vouchers are pushing up rent amounts for all renters. Furthermore, it is near impossible for recipients to ever get off the system due to these inflated rents. We need max rents set separately for those receiving assistance vs those paying out of pocket. We also trail far behind actual numbers to when new income limits etc are set for tax credit renters. This was a huge issue during trumps first term as wages were increasing but income limits trailed behind. Many low income renters made too much to qualify. It should be assessed quarterly. The current system offers voucher recipients no incentive to get off the assistance. It pushes up rental prices for all. It does little to assist those with no vouchers but are low income workers to qualify for tax credit housing
Too many people especially the elderly rely on HUD assistance because their income is based on Social Security checks that are not enough, not only to buy enough healthy food, but to pay their rent. Rents need to come down and SS needs to come up in order to allow people to not just survive but have a decent quality of life.
I agree with you. What I am saying is that what should be “lower income” properties generally raise rents to limits set by hud. This isn’t based off of true supply and demand but what people can supposedly afford with vouchers. Those without vouchers but lower income are hit the hardest because these rates are so inflated for the type of property it is. This does nothing but lines the pocketbooks of owners while pushing rental rates up for everyone.
Okay, that makes sense. I worked in an apartment complex for the elderly for 11 years and it broke my heart. These people were living off small SS checks and depended on food banks for their food. The manager of the building would threaten to evict them if they were late with rent. Management would not replace broken heaters and leaking windows etc… When I went to HUD to notify them of how their funding was being used, I ended up being laid off. It’s all about making money, no one cares about the people.