photo Todd Clarke
NEWS
Soaring Insurance Costs Could ‘End’ Affordable Housing, Developers Warn
August 25, 2024
Developers and landlords of subsidized housing, who cannot raise rents or
charge more for starter homes, say property insurance increases could put them
out of business.
For the poorest Americans, finding an apartment to rent or a home to buy often
means tapping into a vast network of nonprofit groups that use public and
charitable funds to rehab or build affordable housing. Over the past year, the
skyrocketing cost of property insurance has put that network on shaky ground.