Other Ways to Keep Homes Affordable

In the Homes for Working Families 2006 report, Increasing the Availability of Affordable Homes, A Handbook for High-Impact State and Local Solutions prepared by the Center for Housing Policy, the report recommends the following strategies to generate additional capital for affordable homes:

• Expand use of the 4% Low-Income Housing Tax Credit;
• Provide pre-development and acquisition financing;
• Support housing bond issues;
• Ensure that housing finance agency reserves are used for affordable homes; and
• Leverage employers' commitment to affordable homes for workers

The report notes five other high-impact strategies for state and local housing solutions that include:

• Expanding the availability of sites for the development of affordable homes;
• Reducing red tape and other regulatory barriers for affordable homes;
• Harnessing the power of strong housing markets;
• Preserving and recycling resources for affordable housing; and
• Empowering residents to purchase and retain market-rate homes.