Building Affordable Futures

Introduction

The United States is in the midst of a profound and pervasive housing affordability crisis that affects every corner of the country and every segment of society. From major cities to rural communities, from the coasts to the heartland, millions of Americans are struggling to find and maintain affordable, safe, and stable housing. The consequences of this crisis are far-reaching and devastating, undermining the health, well-being, and life chances of individuals and families, and eroding the social, economic, and civic fabric of our communities.

Consider these stark statistics:

- In 2021, the United States had a shortage of nearly 7 million affordable and available rental homes for extremely low-income renters, those earning less than 30% of the area median income (AMI). Only 36 affordable and available rental homes existed for every 100 extremely low-income renter households.

- Nearly half of all renter households in the United States (20.4 million) were cost-burdened in 2019, spending more than 30% of their income on housing. Of these, over 10 million renter households were severely cost-burdened, spending more than 50% of their income on housing.

- The median home price in the United States reached a record high of $374,900 in the second quarter of 2021, up 16.2% from the previous year. At the same time, the median household income in 2020 was $67,521, a decline of 2.9% from 2019 after adjusting for inflation.

- On a single night in January 2020, over 580,000 people experienced homelessness in the United States, a 2.2% increase from the previous year. Of these, over 226,000 were people in families with children, and over 110,000 were chronically homeless individuals.

These numbers only begin to capture the scale and severity of the affordable housing crisis, and the immense human toll it exacts. Behind each statistic are countless stories of hardship, trauma, and lost potential. Families doubled or tripled up in overcrowded and substandard housing, struggling to make ends meet. Seniors choosing between paying rent and buying medicine or food. Children constantly uprooted from schools and communities as their families search for stable housing. Young adults unable to launch their careers or start families due to high housing costs. People with disabilities languishing in institutions or on the streets due to lack of accessible and affordable housing.

The COVID-19 pandemic has only exacerbated and exposed the depths of the affordable housing crisis, with millions of renters facing job losses, income reductions, and housing insecurity. While federal, state, and local eviction moratoria and rental assistance programs have provided critical short-term relief, they have not addressed the underlying, systemic drivers of the crisis.

At its core, the affordable housing crisis is not just a matter of supply and demand, but a reflection of deeper inequities and injustices in our society. It is a crisis rooted in a long history of racist housing policies and practices, from redlining and exclusionary zoning to predatory lending and housing discrimination. It is a crisis fueled by decades of disinvestment in public and subsidized housing, and the commodification and financialization of housing markets. And it is a crisis exacerbated by stagnant wages, rising income and wealth inequality, and a frayed social safety net.

Addressing this crisis will require a fundamental reckoning with these systemic issues, and a bold, comprehensive, and equitable approach to affordable housing. It will require us to reframe housing as a basic human right and public good, rather than a commodity or speculative investment. It will require us to center the voices, needs, and leadership of those most impacted by housing insecurity and unaffordability, particularly low-income renters, communities of color, and other marginalized groups. And it will require us to mobilize the collective will, resources, and creativity of all sectors of society, from government and the private sector to non-profit organizations and local communities. 

This book seeks to contribute to this urgent and necessary effort by providing a comprehensive overview of the affordable housing landscape in the United States, and offering a range of strategies, models, and best practices for advancing affordable housing solutions. Drawing on extensive research, data analysis, and interviews with housing practitioners, policymakers, advocates, and residents across the country, the book aims to:

1. Deepen understanding of the current state of affordable housing in the United States, the factors contributing to the shortage, and the consequences for American communities.

2. Explore the collaborative strategies needed to advance affordable housing solutions, including the roles of government, the private sector, non-profit organizations, and local communities.

3. Highlight innovative approaches to affordable housing development, from architectural and design strategies to sustainable and energy-efficient housing models to advancements in construction technology and materials.

4. Examine the financing and policy frameworks needed to support affordable housing, including innovative financing models, zoning reforms and land use policies, and rent regulation and tenant protection measures.

5. Present case studies and lessons learned from successful affordable housing projects across the United States, as well as insights from international best practices that can be adapted to the U.S. context.

6. Discuss the importance of evaluating the impact and effectiveness of affordable housing initiatives to ensure continuous improvement and accountability.

Throughout the book, we will emphasize the need for solutions that are equitable, sustainable, and community-driven, and that address the root causes of housing insecurity and unaffordability. We will also highlight the intersections between affordable housing and other key issues, such as racial justice, economic mobility, health equity, and climate resilience. 

Ultimately, our goal is not just to inform and inspire, but to catalyze action and change. By providing a roadmap for advancing affordable housing solutions, we hope to empower policymakers, practitioners, advocates, and community members to work together to build a more just and inclusive housing system for all.

The stakes could not be higher. Safe, stable, and affordable housing is the foundation for individual and community well-being, and the key to unlocking opportunity and potential. It is the platform for health, education, employment, and civic engagement. And it is the bedrock of strong, resilient, and equitable communities. 

As a nation, we have the resources, knowledge, and capacity to ensure that every American has access to affordable, quality housing. What we need is the political will, moral courage, and collective commitment to make it happen.

The time for action is now. Let us seize this moment to build a movement for housing justice and equity, one that recognizes the fundamental dignity and worth of every human being, and the transformative power of home. Together, we can create a future where everyone has a place to call home, and where our communities and nation can thrive.