Whether it concerns budgets for properties under construction or addressing the needs at existing properties, steady inflation means higher current and projected operating expenses. Changes in the assumptions or the information underlying these views could produce materially different results. It has been declared in articles in Foreign Affairs and Bloomberg recently. A labor shortagethe construction industry needs more than 2 million more workers over the next three years to keep up with demand, according to the Home Builder Institutemeans that labor costs will also likely continue to increase. Further, the 4% floor for 4% LIHTC credits will be less valuable in the current environment of rising interest rates, and some states have reached the cap on their private activity bond allocations. The UN estimates that the global population will reach 8.5 billion by 2030, with almost 60% of the population living in urban centers. Prominent government efforts in two major cities are failing in different ways to provide. In 2021, BREIT closed on a $7.9 billion acquisition from American International Group (AIG) involving approximately 80,000 units across more than 650 LIHTC properties nationwide. Located just across the Missouri River from Omaha, Nebraska, Council Bluffs is the largest city in Southwest Iowa. The expertise and insight of our market research offers you a broader view of the current environment and can help inform your decisions. Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Learn more about available housing options, how to qualify, and how to apply. WebIn looking at developing and operating affordable housing, one trend is clear: inflationary increases in costs and expenses generally precede inflationary increases in revenue and financing sources. Interest rates generally rise as inflation increases. Select a special interest group from the HUD website. Most local governments are reactionary to solving housing issues, stumbling along the way with ill-conceived programs, thus ineffective. Don't miss out! You must save a search in order to receive alerts. Jeff Jaeger, Co-Founder & Principal, Standard Communities. Monday Friday: 8:00am 4:30pmClosed Holidays and Week-Ends. Cost of living latest: Tesco delivery changes kick in on Tuesday
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