Housing America

America is facing a housing crisis of unprecedented proportions. Up to two million Americans are estimated to experience homelessness each year. In 1991, 4.8 million poor Americans paid over one-half of their income for rent, thus coming seriously close to homelessness. In the 1980s, homeownership rates declined for the first time since World War II. Today, over half of U.S. households lack the income or down payment to qualify for median priced housing. In his introduction, editor Jess Lederman argues that the crisis in affordable housing is a problem that affects us all, seriously undermining the health of our communities in both human and financial terms. Yet, despite these grim statistics, the results of his research indicate that the situation is far from hopeless if we are willing to "challenge many of the preconceptions, rules and regulations that govern much of our thinking about housing in general" and to stop "ignoring the needs of the residents and the social dynamics of the community.". In Housing America, 23 expert contributors - including bankers, builders, architects and executives of social service organizations - provide in-depth information and case studies exploring a variety of practical, creative, fiscally and socially responsible solutions to the housing crisis, including partnerships among financial institutions, builders, real estate agents and community groups; creative ways to meet CBA requirements; "down payment" loans; community development corporations; and exploiting opportunities in niche lending.