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Affordable Housing In D.C. On The Decline

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Affordable housing in the District is vanishing, according to a report published this week by one city think-tank.
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Affordable housing in the District is vanishing, according to a report published this week by one city think-tank.

Jenny Reed, analyst at the D.C. Fiscal Policy Institute, attributes the housing trend to stagnant resident incomes and rising prices.

"Over the last decade, D.C. lost half its low cost rental units and more than 70 percent of its low-value homes," she says.

Appearing on the Kojo Nnamdi show, Reed outlined a policy that she says offers the most relief to those in trouble.

"One of the tools that the District has that has been very successful is the housing production trust fund," says Reed.

This fund, which assists in building and rehabilitating affordable homes, is financed by taxes paid in housing sales.

Reed says when the housing market suffered in the recession, so did the trust. She predicts the problem will only get worse. The Fiscal Policy Institute projects that demand for housing will increase as jobs are added in the District.

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