A need for state regulated income restrictions dffg

 Low-income housing units have too low of income brackets, for what they charge in rent each month.  Low-income families are going Into high amounts of debt due to non affordable living.  Income restricted housing needs to be state regulated and managed. By giving this back to the state it will help bring low-income families out of debt and give them affordable living again.

 This situation was caused when the state waved its rights in the 1930’s during the Great Depression in handling low-income housing.  Income brackets are at an all time low, but rent is at an all time high.  Low-income families are the face of American debt.

 There are 18 million homes/apartments that are currently vacant due to the financial crisis. The reason most of those apartments are vacant is because the rent was too high for low-income families that occupied them.  Over 12 million renters pay over 50% of their monthly income towards rent. This does not include utilities.  Low income families are burdened and buried in credit card debt, some of which they will never get out of.

 The states need to regain control over privately owned income-restricted complexes.  By gaining back this deprived class, it will ensure those living in income-restricted complexes; affordability, stability and a chance to get on their feet. Again.  Taking back the tax break they normally would have given a privately owned complex and putting it back into the system and the housing itself. Using less tax payers money.

 Having state the state regulate low-income housing brackets and rent charges, more low-income families can afford living in these complexes.  Lowering the rent per what the income brackets are will encourage families to step off of state assistance and reduce credit card usage.  More families will be in a better financial situation where they can buy their own homes and build their credit.

 First, having the state re-evaluate what income brackets are considered “low-income” and “poverty level” so there are no gaps between them.  Secondly, having brackets corresponding with monthly rent charges. Making it so that rent should be no more than 30% of their monthly gross income.

 According to HUD’s Public Housing Program, there are guidelines that the state sets for individual complexes to adhere too; though, privately owned complexes rarely follow them. Raising rent at least 40% of the suggested price.  By signing a petition and presenting this proposal to the state it will prove that the state needs to step in and help.  After the state senate has regained its power to regulate income-restricted apartments; they can re-evaluate the fair market pricing on the individual units. Creating a more affordable, stable and secure place to live.

 After the senate has re-evaluated its fair market value, they can use the “HERA” act of 2008 to create affordable rentals and even homes for low-income families, according to the web site Affordable Housing Resource Center.  By creating apartments where rent does not exceed 30% of their gross monthly income would follow the United States National Low Income Housing Coalition (NLIHC)

 Having a state regulated and monitored income system would prove to help the low-income class in affordable living.  It would allow low-income families to get on their feet and out of the low-income bracket.

 *Please see Works Cited Page on website*