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The Need for Affordable Workforce Housing is Gaining Prominence Because of People Like Maxwell Drever

It is not a secret that the United States is suffering from a housing crisis. And the toll bells were ringing prior to the pandemic outbreak. However, in the last couple of years, this concern has aggravated. The investment capital has responded and is increasing the investment initiatives and new development for workforce housing says Maxwell Drever. And with the critical lack of supply all across the country, the markets in need are the ones where housing rents are going beyond the wage growth.

The situation at hand

Today, as the United States has started to implement pandemic lockdowns, it is essential to evaluate multiple parts of the daily life. And here, it is necessary to keep the national housing policy at the forefront and see the way it will get shaped via the conscious investing done by the investors and developers.

Maxwell Drever says that access to secure and affordable housing is a basic need for society. The truth is that there is not an ample supply of houses to cater to the demand. And also most of the times this shortage gets overlooked. Hence, it’s essential to provide adequate workforce housing to the low-income household.

Affordable housing versus the workforce housing

Usually, affordable housing projects are limiting to households below or at 60% of the AMI. And the excluded ones from such programs are a vast section of families that are outside the section of the affordable housing program, but comprise of the similar housing requirements as well as vulnerabilities.

Today, workforce housing is a well-known term that describes the household subsets earning between 60% and 120% of the area median income while retaining a steady employment in communities they cater to. And added in this demographic are several of the crucial workers of the community, such as teachers, health care professionals, retail clerks, police officers and the firefighters. It is these workers on which the country depended and depends on, even before and after the pandemic outbreak.

Some problems with the affordable housing section

The problems that are prevalent with workforce housing population are similar to the crisis that the affordable housing group faces. In certain cases, the workers serve the communities. Where they cannot afford a living and witness a housing shortage in these places where they can’t stay. The low-cost housing crisis is a foundational factor. That the national housing policies and the market participants are trying to fight. The initiative and action taken to address the low-cost housing crisis comprise and must address the workforce housing subset.

Maxwell Drever says that the low-income housing tax credit initiative was successful. In urging the construction and remodeling of low-earning rental properties. However, it also fails to offer apt incentives for the rental development catering to the workforce housing. The section of the multi-family properties caters. To the families earning an income between 80% and 120% of the area median income usually gets unaddressed. Hence, the government agencies and other higher authorities must ensure that there is more supply of affordable workforce housing.

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