Table of Contents
Executive Summary ..................................................................................... 2
Introduction……………………………………………………………………………………4
Affordable Housing and Subsidized Housing…………………………………..…...5
Definitions…………………………………………………………………………………..5
Funding Sources of Subsidized Housing..................................................8
Drivers of Affordable Housing……………………………………………….……….9
Drivers of Subsidized Housing................................................................ 10
Interdependence between Affordable and Subsidized Housing .............. 11
Affordability: Nuts and Bolts ..................................................................... 12
To Buy or Rent? ....................................................................................... 13
The Value of Tenure over Time ................................................................15
Value Maximization ................................................................................ 16
Transportation, the Hidden Cost of “Affordable” Homeownership ........ 18
Financing ................................................................................................ 19
Renting ................................................................................................... 21
Housing Affordability and Family Self-Sufficiency……………………………….25
Policy Options ............................................................................................27
Place-Based Housing Strategies ............................................................ 29
People-Oriented Housing Approaches ................................................... 30
Subsidies and Affordable Housing, Revisited.............................................. 31
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