ICYMI: BUILD BACK BETTER WOULD SUPPORT HOUSING FOR 1 MILLION+ HOUSEHOLDS, PARTICULARLY IN ARIZONA

Bloomberg CityLab: Build Back Better Investments Would “Give a Huge Lift” to Families in Cities With Low Supply of Housing, Like Phoenix, Charlotte, and Orlando

The housing investments in President Biden’s Build Back Better would provide support for more than 1 million new households, according to an analysis by Bloomberg CityLab. For renters in places like Arizona, where low-income and middle-class families are bearing the brunt of a housing market crisis, the plan would go a long way toward lifting up low-income families and boosting the economy.

KEY POINTS:

  • Lawmakers may decide the ultimate shape of Biden’s housing agenda this month. Which is a novel thing in itself: Presidents don’t historically have housing agendas. Tenants and advocates are trying to impress upon lawmakers the urgency of the housing crisis as well as the scale of the opportunity. Expanding vouchers could give a huge lift to lower-income tenants who were pummeled by the pandemic. Done right, those benefits compound over generations. If it passed in its entirety, those advocates say, the Build Back Better bill could conquer a problem that U.S. cities have wrestled with since the 1980s.

  • In the 25 largest U.S. metros, the deepest impact of expanding the program falls not in high-cost coastal cities but in places like Orlando, Phoenix and Charlotte, North Carolina — the three cities that have the biggest gaps between current vouchers and potential vouchers when weighted for the population of renters. Smaller cities and even rural areas stand to see the biggest benefits. For example, in Arizona — where Senator Kyrsten Sinema may hold the deciding vote on Biden’s housing agenda — expanding vouchers would help renters in Phoenix a great deal, but it would go even further toward lifting up low-income Arizona families in Flagstaff, Prescott and Yuma.

Read the full article here.

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