In order to pay for a 50-percent increase to the nation's defense budget, the Trump administration this week proposed to cut funds from a number of other government areas -- including $6.2 billion, or 13 percent, from the Department of Housing and Urban Development. "Under the proposal, direct rental assistance payments -- including Section 8 Housing and housing vouchers for homeless veterans -- would be cut by at least $300 million," reported The Washington Post last week when preliminary numbers were first revealed. According to an analysis released today by Trulia, there are certain groups that will be disproportionately affected by the cuts to rental assistance: Millennials Urban renters Black renters Young inner-city black renters stand to lose out significantly if the budget is passed as proposed. The numbers: Who's affected Trulia decided to dig into the "wealth of data from the U.S. Census Current Population Survey (CPS) on where and who benefits from...
- Millennials (people under 35) represent 48 percent of the population but 60 percent of rental assistance recipients.
- Black Americans represent 13 percent of the U.S. population and about 41 percent of rental assistance recipients.
- "Central city" residents represent about 28 percent of the U.S. population but comprise 44 percent of rental recipients.
- Whether the number of available rental vouchers will increase, remain stable or decrease will largely depend on how local housing authorities decide to absorb the cuts.
Faster. Better. Together.
Inman Connect San Francisco, Jul 16-20, 2018