One municipality taking this recommendation seriously is Miami, where its introduction of a local cryptocurrency, MiamiCoin, is already showing promising results. “ In just under 60 days, MiamiCoin
has already generated about $7.5 million for the city and can be used for affordable housing. I think that’s something that would be an amazing new revenue source to continue to build affordable housing in a city that so desperately needs it. ”
Mayor Francis X. Suarez City of Miami, Florida
It was also recommended by participants in The NHP Foundation Symposium that the U.S. look to other countries to learn from policies which support stable, affordable rental housing. For example, Jenny Schuetz at Brookings wrote a series of case studies on rental housing specifically in six developed countries. And the U.S. stands out as “having spent the least amount of GDP on housing compared to other rich countries.” With 89% of those surveyed believing that housing is a basic human right, we challenge everyone in the equation to seek innovative solutions to fund such housing going forward.
We are currently living in a cautionary tale. In his new book, The Contagion Next Time, Sandro Galea, Dean of the Boston University School of Public Health, draws a straight line from failures in public health and the legacy of Jim Crow legislation to the devastation wreaked on society by the Pandemic. “Investing in the healthiest population possible is an act of national security against a future pandemic”—and it begins with an investment in providing housing that will help ensure healthier, more resilient communities. It is incumbent not simply upon all of those in the affordable housing equation—but society in general— to step up and take a commanding interest in effecting substantive change. As long as inequities and vulnerabilities remain in some parts of society, all of society is vulnerable.
A Decade of Rental Housing Vulnerability
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