The lack of affordable housing remains a national problem in the United States, concludes the AFL-CIO Housing Investment Trust.

For starters, renter households have seen their savings dwindle due to the high cost of living, resulting in approximately 49% of all renters having to pay more than 30% of their income for housing. 

The supply of low-rent units has fallen steadily over the past decade due to rent increases in existing units, tenancy conversions of rental stock, building expropriations and demolitions. 

Adjusting for inflation, the number of units with contract rents below $600 fell from 11.9 million to 8.0 million in the decade between 2011 and 2021, according to the latest figures from Harvard University‘s Joint Center for Housing Studies.

Housing 

AFL-CIO Housing Investment Trust has a proven track record of investing in affordable and market-rate housing and can offer flexible financing that creates a significant competitive advantage. 

From his perspective, the U.S. economy is likely to slow in the coming months as the lagged effects of higher interest rates, high energy prices and a slowing labor market weigh on consumer spending. 

In addition, turmoil in the Middle East could push oil prices higher, acting as an additional tax on already strained consumer budgets.

The economic outlook was further clouded in the third quarter given the uncertainty surrounding leadership in the House of Representatives. Because the budget deal that was narrowly passed at the end of September was only good for 45 days, a new budget deal will need to be passed in mid-November to avoid a government shutdown.