Annotated Bibliography: Affordable Housing Crisis in Charlotte, NC

The affordable housing crisis has been evidenced by many people applying for very few subsidized houses. In Charlotte, more than one thousand people lined up to apply for 130 housing units. However, many applicants were disappointed that the units had a fixed cost and did not vary on income. To deal with the shortage, Congress made the following proposals: introduction of renter's tax credits, increase funding for housing assistance programs and invest more in public housing projects.

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The source outlines the impact of the current proposals made by Congress to reduce the housing crisis, which aims to impose policy changes and developments. The article evaluates the various recommendations that should be put in place to increase funding on housing assistance programs and other initiatives such as renters' tax credit. The article also analyzes the regulation of the housing market and the effectiveness of the housing subsidy program in solving the crisis. The article is useful because it explores effective strategies that are environmentally sustainable and promote affordable housing.

The U.S has been on the verge of a housing crisis, with most citizens being cost-burdened. Despite the continuous growth of the U.S economy and the housing market, many citizens cannot pay for houses due to high housing prices. Housing can only be considered affordable only if families spend no more than 30% of their income on housing costs (Affordable Housing ). The city of Charlotte is one of the fastest-growing cities in the U.S. The cost of housing in Charlotte has been, for the past few years, been on the rise. Charlotte city has developed a housing framework that seeks to give citizens an opportunity to expand housing units and preserve current units.

The article provides quality information on the current challenges that residents face, such as skyrocketing of housing costs and inadequate affordable housing units. These two challenges have affected the lives of residents in Charlotte. The currently affordable housing units are large-scale and are not subsidized, meaning their high costs make them less affordable, especially for low-income earners. The article outlines the need to develop strategies that will ease the cost burden of many people and increase the affordability of houses.

Kimberlin, Sara, Laura Tach, and Christopher Wimer. "A Renter's Tax Credit to Curtail the Affordable Housing Crisis." RSF: The Russell Sage Foundation Journal of the Social Sciences 4.2 (2018): 131-160. https://doi.org/10.7758/RSF.2018.4.2.07

Implementing a renters' tax credit for low-income Americans would play a crucial role in reducing the cost burden for low-income earners. There is a significant problem because most families spend a large share of their income on housing expenses. Subsidized rental housing initiatives in the U.S., such as the Low Income Housing Tax Credit (LIHTC), have created more than two million rental units since the start of the program. The LIHTC is currently the most significant source of revenue for developers. Moreover, LIHTC rental units have fixed rents regardless of the differences in income. On the other hand, tax credits have the following advantages: administrative costs, efficient targeting, promote housing stability, and increase living standards.

The article evaluates the advantages of renter's tax credit in solving problems associated with the existing housing programs. The article defines the renter's tax credit as a promising means of solving the affordable housing crisis and evaluates the enormous benefits associated with renter's tax credit. The source is vital because it provides a strategic and new means of dealing with the housing crisis and reducing the cost burden for low-income earners

"Novant Health Pledges $6 Million to Address Charlotte's Affordable Housing Crisis" Targeted News Service; 5 Sep 2019.Washington D.C.

The Charlotte housing crisis has attracted many shareholders who wish to help in increasing affordable housing. For instance, Novant Health pledged to donate $6 million to the Charlotte Housing Opportunity Investment Fund. Novant Health recognizes the importance of affordable housing in one of the most famous cities in the United States. For a long time, Novant Health has invested in the public and promoted social and economic mobility.

The article outlines the role of the general public and other community stakeholders in promoting affordable housing. The source is crucial because it emphasizes the need for private stakeholders and institutions to help the government deal with the affordable housing crisis. The source is relevant in this study because it discusses the relevance of community institutions such as Novant Health in solving Charlotte's housing crisis.

Pam Kelley "From Brooklyn to Ballantyne: The Story behind Charlotte's Affordable Housing Crisis." The Charlotte Observer.17 June 2019. https://www.charlotteobserver.com/news/local/article231622193.html

Charlotte's affordable housing crisis has continued to become even more severe in the past years. The current house unit's deficit is above 34000, meaning that most families have no access to affordable housing. Housing prices have hiked, with rents increasing by almost 45% since 2010. The high housing cost, low income, and inadequate housing units have fueled severe housing problems in Charlotte. A study done in 2014 revealed that Charlotte ranks last in social mobility.

The article has evaluated the significant impediments that have been associated with the housing crisis. The source also outlines the challenges that Charlotte faces and the failure to implement recommendations given by housing consultants. The source also studies the effect of institutional racism on the crisis due to the racial wealth gap and the importance of economic equality in Charlotte in dealing with the crisis.

.Ryan, C. M., Jeffreys, K., Ryczek, J., & Diaz, J. (2014). Building Public Will: The Battle for Affordable—and Supportive—Housing. Journal of Poverty, 18(3), 335-354. https://www.tandfonline.com/doi/abs/10.1080/10875549.2014.923967

Permanent supportive housing programs require huge investments due to the costs of setting up adequate units. Despite the urgency of such programs in alleviating the housing crisis, they have received inadequate support from the government. However, some programs have proven very effective in providing affordable housing units for their residents. Such a program is the Rhode -Island Coalition for the Homeless (RICH).RICH focused on building goodwill among the public and promoting incentives to fund affordable housing.

The source gives a critical analysis of the RICH Neighborhood Opportunities Program and the NOP campaign effectiveness in reducing the burden for most residents of Rhode Island, who invest more than 30% of their income on housing. The article also outlines the importance of investing in public will in affordable housing projects. The source analyzes the various strategies of establishing successful affordable housing programs while focusing on middle and low-income earners. The source is relevant because it explores the viability of integrating discursive strategies that give the public incentive to finance affordable housing units.

"Novant Health Pledges $6 Million to Address Charlotte's Affordable Housing Crisis" Targeted News Service; 5 Sep 2019.Washington D.C.

The Charlotte housing crisis has attracted many shareholders who wish to help in increasing affordable housing. For instance, Novant Health pledged to donate $6 million to the Charlotte Housing Opportunity Investment Fund. Novant Health recognizes the importance of affordable housing in one of the most famous cities in the United States. For a long time, Novant Health has invested in the public and promoted social and economic mobility.

The article outlines the role of the general public and other community stakeholders in promoting affordable housing. The source is crucial because it emphasizes the need for private stakeholders and institutions to help the government deal with the affordable housing crisis. The source is relevant in this study because it discusses community institutions such as Novant Health in solving Charlotte's housing crisis.