Monday, Sep 26 2011 2:59PM
NMHC says construction development in the coming years should be focused on rental housing
Doug Bibby, President of the National Multi Housing Council (NMHC), recently gave a presentation at the National Apartment Summit in Virginia, in which he stated there will be a substantial need for affordable housing nationwide during the next few years.
Bibby said construction development in the coming years should be focused on rental housing and renters and further noted that Americans are opting for more affordable housing opportunities because high costs of suburban housing outreaches their financial limits.
"In their place are growing numbers of households who are more likely to choose renting - single parents, couples without children and empty nesters," Bibby said. "By 2025, singles and unrelated individuals living together will comprise forty percent of households."
A report by NMHC, titled A New Housing Policy: Imagine the Possibilities, presents four major points for urban and rural developers to consider including the growing disconnect between American housing needs and its policies.
According to Habitat for Humanity, 14.5 million households qualify for government aid, but only 4.1 million are actually receiving any.