Word: low-cost
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Since taking office, the Administration has virtually eliminated HUD's function as a builder of low-cost housing, choosing instead to spend $5.8 billion on modernizing existing units. Reagan has proposed a private-sector substitute: a housing voucher program, whereby poor families could shop for housing in the private rental market with federally subsidized cash vouchers. The Administration argues that the program will save the Government money and give people more control over their choice of dwellings. Critics charge, however, that the supply of private, low-cost housing is too small, and the opportunities for landlord price gouging...
...growing number of very low-income people, most of whom are black, Hispanic or elderly. Nearly 10% of Boston's population lives in public housing. In New York there are 175,000 families on the waiting list. An increase in the number of urban homeless threatens to pressure the system even further. The need for improved programs for funding and managing low-income housing is critical, but until they are developed, existing projects will need to be maintained. HUD estimates it would take $67 billion to replace them. Without public housing or low-cost alternatives, says Carrie Copeland, president...
...definite problem areas loom high, namely the availability of parking and affordable housing. Low-cost housing is already a problem in East Cambridge--where the median family income is $15.929, compared to $28.278 in the Harvard area...
...despite politicians goodwill, it may be difficult both to attract private developers and to alleviate fears of gentrification in East Cambridge. The area is not attractive enough yet to burden developers with extra costs such as requirements to build low-cost housing for the right to construct commercial buildings...
Though his company was shunned at first by established financial backers, Hwang got started making low-cost, high-quality computer monitors. When TeleVideo went public in March, Hwang sold shares worth $11.8 million, but kept stock worth $520.4 million...