The widespread layoffs and pay cuts stemming from the COVID-19 pandemic have made the need for affordable housing more critical than ever.
"The vast majority of low-income households are rent-burdened," says David Leopold, senior vice president and head of Affordable Housing at Berkadia. "Demand for units that low-income people can afford vastly outstripped the number of units available to them. So we came into this crazy COVID crisis with that state of affairs, and unfortunately, COVID hasn't improved them."
Investors recognize this need, according to Leopold.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
