$100 billion proposed for US housing crunch

US-POLITICS-HARRIS

US-POLITICS-HARRIS

Two democratic lawmakers hope $100 billion will fix the nation's housing crunch. $70 billion of the funding contained in Sen. Kamala Harris' and Rep. Maxine Waters' bill would go toward repairs and upgrades to federally subsidized housing.

According to a 2018 HUD report, 10,000 public housing units are lost each year due largely to poor maintenance. Additional legislation introduced by Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez would pay for energy and water efficiency upgrades for apartment buildings.

The availability of affordable housing hasn't kept pace with demand, especially in California, MarketWatch reports.

Photo: Getty Images

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