In a previous blog post, we discussed the early years of affordable housing legislation in the United States and the problems that followed. Once projects were completed, owners of affordable housing faced financial difficulties and looked to pay back their subsidized mortgages early or sell the apartments at more lucrative market rates. These actions ultimately resulted in housing no longer being available to low-income citizens. This crisis would eventually lead to a push from task forces to preserve affordable housing for its target market. The graphic below discusses the phases of attempts at affordable housing preservation over the last few decades.
For more information and a more detailed look at the preservation of affordable housing, visit Harvard.edu