Uncertainty Over Tax Reform is Already Hurting Affordable Housing – By Kriston Capps
January 27, 2017 – Awaiting action from Congress, investors are hitting the pause button on developments that use tax credits to create affordable housing. Tax reform will come quickly under the 115th Congress. The next steps lawmakers take will have a profound effect on the affordable housing crisis. By the time legislators break for recess in August, they may have significantly reshaped, and possibly scaled back, the hundreds of billions of dollars in housing aid and tax relief authorized by the federal government. To read the complete article, click here:
Healthy Aging Begins at Home, by the Bipartisan Policy Center.
Former HUD secretaries Henry Cisneros and Mel Martinez Address Senior Housing
Henry Cisneros and Mel Martinez, co-chairs of the Bipartisan Policy Center’s Senior Health and Housing Task Force, have released a report with recommendations that Congress, the administration and states could put in motion for better health outcomes for older adults.
They cite the following obstacles:
The current housing supply that is affordable to the nations lowest-income seniors is woefully inadequate. As more low-income Americans enter the senior ranks, this supply shortage (currently measured in the millions) will become even more acute.
The majority of seniors wish to age in place in their own homes and communities. Most homes/communities lack the structural features and support services to make that a safe, realistic option.
About 70% of adults over 60 will eventually require help with bathing, food preparation, dressing and medication management, referred to as long-term services and supports (LTSS). Medicare does not cover LTSS, only a small minority of Americans can afford insurance covering these expenses.
Personal savings are critical, but millions of seniors will fall far short of what is necessary to pay for housing, modification to make homes safer, LTSS and other needs.