In response to Harvard University’s Joint Study on Housing documenting the shortage of affordable rental housing in the U. S., as MHProNews covered earlier, Chairman of the National Association of Home Builders (NAHB) Rick Judson issued a statement emphasizing the importance of the Low Income Housing Tax Credit (LIHTC) in constructing affordable multifamily housing. Noting that efforts to reform the housing finance system need to include a federal backstop, especially during downturns in the economic cycle, Judson agrees with the Joint Center report that the Tax Credit needs to be retained, instead of being eliminated as some in Congress would have it, and even strengthened. He also suggested the government provide gap financing to reduce building costs, remove regulatory barriers to construction, and streamline LIHTC program rules.
