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Bistricer joined the family business in the 1970s. [1] In the 1980s, the Bistricer family was heavily involved in the conversion of rental buildings in New York City into cooperatives. In 1994, they were charged with not disclosing sufficient information to the buyers of the units and in 1998, they were banned from selling co-ops and condos. [1]
The federal government, through its Low-Income Housing Tax Credit program (which in 2012 paid for construction of 90% of all subsidized rental housing in the US), spends $6 billion per year to finance 50,000 low-income rental units annually, with median costs per unit for new construction (2011–2015) ranging from $126,000 in Texas to $326,000 ...
As of 2010, this innovative approach yielded the construction of 1.5 million low-income housing units. [38] However, while the LIHTC has expanded to provide the most new affordable housing in the United States, the program has received many criticisms and calls for its elimination.
Flow is an American residential real estate company founded in 2022 by Adam Neumann, the former CEO of WeWork. [2] Headquartered in Miami, Florida, [3] the company aims to address aspects of the housing shortage in the United States by incorporating technology, fostering social interaction, and promoting equity for renters.
Over the course of a 2006 investigation, the company — which owned 20,000 apartments in New York City at the time — conceded that it had overcharged rent-stabilized tenants at an apartment complex in The Bronx. Pinnacle agreed to pay $1 million to 300 tenants to make up for what they’d been overcharged, with interest.
There are about 135 million homes in the United States as of 2016. [17] Housing researchers generally conclude that the supply of housing in the United States is too low to meet demand, [20] resulting in an affordability crisis. [21] [16] Among the renting population, nearly half pay more than 30% of their income toward rent. [21]
The size of revenues also varies from fund to fund. A survey of 145 trust funds showed that 1/5th received more than $10 million per year, but the large majority (82%) received less than $5 million or no funding at all. [3] The following is a non-exhaustive list of funding sources for various types of Housing Trust Funds in the United States. [4]
One Billion Americans: The Case for Thinking Bigger is a book by Matthew Yglesias, first published in 2020. One Billion Americans argues that America is not over-crowded and that the USA should aim to increase its population to 1 billion in order counterbalance China and be "the greatest nation on Earth".