The Affordable Housing Industry's Top 10 Stories of 2019

December 27, 2019                                By: Christine Serlin

AHF, industry leaders count down the news events of the year.

2019 was a relatively quiet year for the affordable housing industry, unlike the previous several years when effects of tax reform and the 2016 presidential election dominated the news. Even so, the year brought us new trends and notable changes.

Affordable Housing Finance, with help from its Editorial Advisory Board members, takes a look at 10 news events for the industry from the past year.

1. Growing Focus on Affordable Housing

The affordability crisis made national and local headlines during 2019.

“There’s increased national interest in increasing the supply of affordable housing,” says Bart Mitchell, president and CEO of The Community Builders. “Everyone is talking about it, from presidential candidates with housing plans to more congressional sponsors to increase low-income housing tax credit (LIHTC) resources than ever before.”

Affordable housing has been a key talking point for 2020 Democratic presidential contenders, even coming front and center during a primary debate in November. It also was a hot topic in local elections across the nation this past fall.

The LIHTC continues to receive broad bipartisan support in Congress. The Affordable Housing Credit Improvement Act (S. 1703 and H.R. 3077) has 197 co-sponsors in the House—125 Democrats and 72 Republicans—and 37 co-sponsors in the Senate—24 Democrats, 11 Republicans, and two Independents. One of the bill’s provisions, the permanent 4% LIHTC rate, was in play up to the last minute in budget negotiations in mid-December but was abruptly pulled at the last minute....................Read More