“We were surprised to learn that 54% of these young graduates know that they could potentially qualify for affordable housing under HUD’s definition,” stated Richard Burns, President & CEO of The NHP Foundation. “This helps us understand how we need to consider housing to suit these renters, who may be in apartments for longer than they think.” Affordable housing, long thought of as the purview of the very poor is fast becoming the housing need for many demographics—graduates on tight budgets, Baby Boomers caught in an economic squeeze and many middle income families whose paychecks can’t always cover housing and healthcare. This reality is a wake-up call for housing providers and those who invest in its construction. “Generation Rent” expects to lives as well or better than their parents. Affordable housing can provide a necessary stepping stone for this most optimistic demographic.
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