The Guru Is In Archives

Even as tax reform looms on the horizon, the LIHTC is under a different mortal threat, one from an unlikely source – the Obama Administration and its judicially questionable but so-far politically effective blunderbuss known as disparate impact. If not struck down in a case just argued in the Supreme Court, then we might as well kiss goodbye states’ autonomy to set their own QAPs and to make binding awards, and say sayanora to the LIHTC production pipeline as we know it.

Young singles have plenty of personal, economic, and social mobility; they have minimal cash assets (and possibly maximal student-loan liabilities); they want to live somewhere close to work and pay as little cash for it as they can. Their needs beautifully complement what the elderly homeowners have, and what they have is what the elderly need.

RAD, the public housing Rental Assistance Demonstration is in jeopardy of stalling for want of a simple legislative fix: Passage by Congress of a bill raising the current cap of 60,000 units to at least 185,000, or, better yet, eliminating the cap entirely.

Sometimes a revolution happens not with a blare of trumpets but through a thousand small actions in the same direction. Without actually sensing movement, one suddenly realizes the world has become quite different than it was – and is never going back.