Future Prospects for Public Housing in the United States: Lessons From the Rental Assistance Demonstration Program

2017/03/31 by Alex Schwartz · 2 citations
Economics, Econometrics and Finance · #Housing Market and Economics

paper · doi:10.1080/10511482.2017.1287113

Abstract

This article provides an overview of the Rental Assistance Demonstration (RAD) program in the United States and examines its early implementation from its start in 2013 through April 6, 2016. RAD was devised to address the physical deterioration of public housing and secure a more stable funding stream. It requires public housing authorities to shift properties out of the public housing program into a different subsidy program (project-based Section 8) which enables them to obtain mortgages on more favorable terms and to secure tax-credit investment. The program is currently limited to 185,000 housing units. As of April 6th, the program was fully subscribed, and had generated more than 2 billion in new investment. Extrapolating from the early results, RAD has the potential to yield more than 15 billion for fund the redevelopment and renovation of public housing.

Cited by

• A Spectrum of Preservation to Privatization? Public Housing Authorities’ Adoption of the Rental Assistance Demonstration Across the United States
• Rethinking “Opportunity” in the Siting of Affordable Housing in California: Resident Perspectives on the Low-Income Housing Tax Credit

Related

• The Origins of the Rental Assistance Demonstration Program and the End of Public Housing
• A Spectrum of Preservation to Privatization? Public Housing Authorities’ Adoption of the Rental Assistance Demonstration Across the United States
• The Transformation of Public Housing Policy, 1985–2011
• Housing Programs Fail to Deliver on Neighborhood Quality, Reexamined
• Public Housing Authorities in the Private Market