Bill would boost affordable housing and employment
For proof, look no further than the respective timelines of the biggest real estate collapse of our lifetimes and the Great Recession - the latter triggered by a sharp decline in home values, which eroded people's sense of wealth, cut consumer spending at the knees and resulted in massive cutba...
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| Published in | Inland Valley daily bulletin |
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| Main Author | |
| Format | Newspaper Article |
| Language | English |
| Published |
Ontario, Calif
Los Angeles Newspaper Group
18.04.2013
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| Online Access | Get full text |
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| Summary: | For proof, look no further than the respective timelines of the biggest real estate collapse of our lifetimes and the Great Recession - the latter triggered by a sharp decline in home values, which eroded people's sense of wealth, cut consumer spending at the knees and resulted in massive cutbacks and layoffs at businesses practically across the board. Therein lies the bitter irony of this most recent housing collapse. Pat Clancy, a leading national voice on affordable housing who is currently working with Southern California-based National Community Renaissance, calls it a "perfect paradox" - one in which a decline in home values actually exacerbates the affordable housing crisis. "The only viable solutions are public-private partnerships, and a commitment from the state to make this a top priority," said Clancy, former head of The Community Builders, the nation's largest nonprofit urban residential developer. |
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