Two New Reports Detail Pandemic’s Effect
on Housing Needs Nationwide and in Florida
Full Appropriation of Florida’s Housing trust Fund Key to Economic Recovery
TALLAHASSEE, FLA: Today, the National Low Income Housing Collection (NLIHC) and the Florida Housing Coalition release independent reports that tell a consistent story – the national housing crisis and Florida’s housing crisis have been exacerbated by the COVID-19 pandemic — induced by a loss of employment and an usually high priced housing market for both homeownership and rentals. According to both The Gap Report: A Shortage of Affordable Homes and the Florida Housing Coalition’s 2021 Home Matters Report, many low-income households were already struggling to afford their rent even before COVID-19 devastated so many throughout the state.
Florida needs to increase the supply of affordable rentals and homeownership now more than ever. Low-income renters find themselves in a game of musical chairs for a limited number of affordable units. NLIHC’s report states that even if an extremely low-income (ELI) renter could afford a home, there’s a significant shortage with just 37 affordable and available rental homes for every 100 ELI renter households nationwide. In Florida, according to the Home Matters Report, there are only 25 available units for every 100 extremely low income renters who need it.
The Home Matters Report provides the facts and numbers that help Florida to recover – using all the Sadowski Housing Trust Funds for Housing. In just this year, full appropriation of the Housing Trust Fund will create over $4.9 billion in positive economic benefit, close to 33,000 jobs, a 40% return on investment in revenue generated, and over 19,000 homes rehabilitated or built.
According to Florida Housing Coalition, CEO, Jaimie Ross, “the robust real estate market means the revenue coming to the state is up, coupled with the massive infusion of billions of dollars from the American Rescue Act passed last week which can be used to plug holes in state and local budgets, the Florida Legislature has the pressure of a budget deficit completely lifted. We can and should use all the Sadowski Housing Trust funds solely for Florida’s housing programs.”
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