The Role of Affordable Housing in Stimulating Job Creation and Economic Development

Facilitating the availability of affordable housing appearspays big dividends to local communities as well as to homeowners according to a study released today by the National Housing Center and the Center for Housing Policy. The Role of Affordable Housing in Creating Jobs and Stimulating Local Economic Development was authored by KeithWardrip, Laura Williams, and Suzanne Hague under a MacArthur Foundation Grant. The authors found virtually no negatives to policies encouraging affordable housing which can include tax credits for building or rehabilitating housing, providing low cost loans for down payment or closing cost assistance, subsidies to lower the cost of housing to affordable levels, or providing sound underwriting for loans in under-served areas. Building or rehabbing housing not...(read more)

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Source: http://www.mortgagenewsdaily.com/01132011_affordable_housing.asp

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