The current American federal government has little or no interest in a national affordability crisis, preferring to hack relentlessly at federal funding instituted by previous administrations.
Not surprising, perhaps, that a Washington area city has banged the last nail into the affordability coffin. True, they haven’t banged it quite flush, so it might be pried up for some unlikely event in future.
Arlington, Virginia has eliminated the upper limit on its definition of affordability when it comes to funding. Yes, that’s right. Anybody, even a billionaire, can be eligible for affordable housing in Arlington.
Arlington City Council is quick to reassure that of course their purpose is not to assist billionaires to buy housing.
So, what is the purpose then? That’s less clear, although council wishes to celebrate the idea that their city is home to all levels of income. Perhaps they envision a tidal wave of affordable housing funding that will flush all the upper classes out of town.
Check out for yourselves why a city is pioneering affordability as an essentially meaningless term. Read more in INSIDENOVA: Arlington Board Eliminates Income Ceilings For Affordable Housing