Listen up for a great discussion on reasons that homebuilding lags demand right now. There are multiple contributing factors, but the ultimate effect is a supply-demand imbalance that is keeping housing costs high. Insufficient supply drives an affordability gap that ripples through more than just housing. Displacement, distance from employment, transportation costs and being economically edged out of high-quality school systems are real negative externalities of the undersupply of affordable homes.
NMTCs have been successful in expanding the supply of affordable for-sale homes. Click over to our resources page for in-depth models that explain how these tax credits can be leveraged not just for job creation initiatives, but for the development and rehab of housing specifically for sale to residents of qualified communities. We have structured these deals for 15 years, adding more than 4,000 affordable for-sale homes to communities in 30 states and the District of Columbia. Imagine how many more could be created if there was a portion of NMTCs dedicated to these initiatives, or better yet, a dedicated federal credit to attract private investment that would address the supply shortage? Would-be homeowners would become homeowners, rebuilding individual economic vitality and restoring economic activity within their communities.
We're staying tuned to all of the market analysis and policy conversations surrounding our nation's housing divide, and we're joining forces with anyone who wants to make a change by restoring homeownership opportunity. Let us know if you'd like to join the coalition to expand and restore homeownership opportunity.