Affordable Housing Gap Leaves San Francisco’s Neediest In Dire Straits

San Francisco has nonprofit groups and other programs in place to help the city’s most vulnerable residents — families tossed out of their homes due to the recession — find housing. In recent months, however, that system has been greatly strained. Federal housing grants and tax credit programs have decreased drastically. Last year alone, the U.S. Department of Housing and Urban Development’s HOME Investment Partnerships Program, which doles out grants to municipalities for things like affordable housing construction and down payment assistance, saw its budget slashed by almost 38 percent. Cuts to the program the previous year were even more dramatic. Moreover, as well-educated workers have swarmed into town to gobble up the high-paying jobs promised by a social media-fueled tech boom, the cost of housing has risen even further. Last year alone, San Francisco saw a 15 percent rise in rental prices, far and away the sharpest increase of any city in the country. These upward pressures on housing costs mean the city’s poor and even middle-class residents must either find access to government-subsidized housing or move somewhere else. But in an era of soaring budget deficits both at state and federal levels, government-subsidized housing has become increasingly difficult to obtain.

Huffington Post


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