Affordable Housing or Lack Thereof

Section 8 Cuts Threaten to Diminish Access to Affordable Housing
New York is a city beset by an affordable housing crisis—market forces are eliminating affordable units faster than the city can add them, even rents in the least-expensive neighborhoods are beyond the reach of low-income workers—and now, major cuts to Section 8 program threaten to further reduce low-income New Yorker’s access to affordable housing.
Federal sequestration will cut $120 million from the rental subsidy program, according to Crain’s. To deal with the cuts, government agencies that administer the housing vouchers may reduce the number issued this year by as many as 6,000; other cuts will come in the form of reduced subsidies, forcing tenants and Section 8 housing providers to pick up the slack. Read More








