What 2023 Holds for Affordable Housing
Inflation, supply chain issues and rising interest rates are making it difficult to build any housing—particularly affordable housing. Developers in 2023 looking to make a dent in the nation’s shortage of 7 million affordable units are hoping for more favorable economic factors and say legislators need to pass more Low Income Housing Tax Credits. That said, affordable housing is a stable investment even in volatile times. The challenge is raising the capital, but some new avenues for lending are making it more possible. Long-term demand and growing investor interest is helping nudge developers into filling the gap.