NHPF Industry Report
Adapting Affordable Housing to the New Realities: Break Down Industry Silos NHPF, celebrating its 35th year as a mission-based provider of quality affordable housing, commissioned a survey exploring the effects of key “new realities” impacting the affordable housing industry. The 2024 NHPF study underscores how the industry is navigating through these significant challenges, from securing land and financing construction to combatting the effects of climate change to ensuring residents’ safety and quality of life. The roots of these issues can be traced back to the 2008 financial crisis, which led to widespread foreclosures, plummeting property values, and a severe contraction in available credit. Systemic housing bias and deficient construction of housing for the poorest Americans go back more than a century. More recently, the effects of the pandemic, including widespread evictions and the reduction of rent subsidies, have further exacerbated the situation. Ongoing weather-related disasters and costs arising from climate change also remain stubborn adversaries. In response to these challenges, various efforts have emerged to sustain the creation and availability of affordable housing. These include regulatory reforms, innovative policy initiatives, and cutting-edge construction methods, all designed to prevent another housing crisis and make homes more accessible, resilient, and affordable.
THE NHP FOUNDATION 2024 SYMPOSIUM: INDUSTRY REPORT • 11
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