http://www.nyc.gov/html/nycha/html/section8/section8.shtml "Unfortunately due to a lack of sufficient funding at this time, the New York City Housing Authority will no longer accept any new Section 8 voucher applications or process existing Section 8 vouchers." section 8 is used to supplement rent payments to landlords so that low income households don't pay more than 30% of income on housing (the... [more]
http://www.nyc.gov/html/nycha/html/section8/section8.shtml
"Unfortunately due to a lack of sufficient funding at this time, the New York City Housing Authority will no longer accept any new Section 8 voucher applications or process existing Section 8 vouchers."
section 8 is used to supplement rent payments to landlords so that low income households don't pay more than 30% of income on housing (the median reported income is $15k, the median rent payment is around $250, but the landlord gets a normal rent for a usually not nice unit).
around 100,000 households use section 8 in nyc according to what i've read. the funding is drying up, the red tape for landlords is going up, so many landlords are letting the program expire hoping to get regular renters. i know for a fact that some of the units we just visited were section 8 (realtor told)... so i wonder where these people went and also how much rents are being supported at the very low end by this 100,000 almost totally subsidized rents that would typically receive the bottom rents.
to my surprise, i found a related program for homeownership "Section 8 Homeownership Voucher Program " in which a section 8 user can apply that subsidy towards housing payments on a house purchase plus down payment assistance (only 1% downpayment is needed). this subsidy could be used for buying homes through a lottery too. anybody ever heard of people using this program? it's alive and kicking since 2000 i think.
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Response by glamma
almost 16 years ago
Posts: 830
Member since: Jun 2009
i have read about this, i think habitat for humanity has a bridge program with it?
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Response by alanhart
almost 16 years ago
Posts: 12397
Member since: Feb 2007
If anyone knows any very low-income people who might be interested in new construction in Hamilton Heights / West Harlem, this just in:
i don't know glamma, just started reading about this a few days ago. got surprised by the synchronized freeze of waiting lists across metropolitan areas in USA first, but then learned that's federally funded. i found only 1 paper regarding the effects of putting an artificial floor on rentals using seciton 8, but it was from 1983. according to the authors it resembles a union, great for those that got it, very bad for those that don't. lowering the subsidy per unit and giving it to more people (spending the same $) would be beneficial to everybody according to them (but not landlords imho when vacancy rates are low).
i listened to complains in the playground (from nannies, btw illegals are getting this vouchers too, like most benefits from the city including free childcare, they don't look into legal status) that there was nothing available for rent in the $500-$750 range and that the waiting list for section 8 was taking forever (7 years average in nyc, 3.5 years avg in usa). wonder whether section 8 has anything to do with having a high minimal rental in areas that have median incomes that don't sustain that at all. also many people getting income off the books would explain higher rent/(declared) income ratios
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Response by notadmin
almost 16 years ago
Posts: 3835
Member since: Jul 2008
i don't know glamma, just started reading about this a few days ago. got surprised by the synchronized freeze of waiting lists across metropolitan areas in USA first, but then learned that's federally funded. i found only 1 paper regarding the effects of putting an artificial floor on rentals using seciton 8, but it was from 1983. according to the authors it resembles a union, great for those that got it, very bad for those that don't. lowering the subsidy per unit and giving it to more people (spending the same $) would be beneficial to everybody according to them (but not landlords imho when vacancy rates are low).
i listened to complains in the playground (from nannies, btw illegals are getting this vouchers too, like most benefits from the city including free childcare, they don't look into legal status) that there was nothing available for rent in the $500-$750 range and that the waiting list for section 8 was taking forever (7 years average in nyc, 3.5 years avg in usa). wonder whether section 8 has anything to do with having a high minimal rental in areas that have median incomes that don't sustain that at all. also many people getting income off the books would explain higher rent/(declared) income ratios
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i have read about this, i think habitat for humanity has a bridge program with it?
If anyone knows any very low-income people who might be interested in new construction in Hamilton Heights / West Harlem, this just in:
http://www.castlegardensnyc.com/
i don't know glamma, just started reading about this a few days ago. got surprised by the synchronized freeze of waiting lists across metropolitan areas in USA first, but then learned that's federally funded. i found only 1 paper regarding the effects of putting an artificial floor on rentals using seciton 8, but it was from 1983. according to the authors it resembles a union, great for those that got it, very bad for those that don't. lowering the subsidy per unit and giving it to more people (spending the same $) would be beneficial to everybody according to them (but not landlords imho when vacancy rates are low).
i listened to complains in the playground (from nannies, btw illegals are getting this vouchers too, like most benefits from the city including free childcare, they don't look into legal status) that there was nothing available for rent in the $500-$750 range and that the waiting list for section 8 was taking forever (7 years average in nyc, 3.5 years avg in usa). wonder whether section 8 has anything to do with having a high minimal rental in areas that have median incomes that don't sustain that at all. also many people getting income off the books would explain higher rent/(declared) income ratios
i don't know glamma, just started reading about this a few days ago. got surprised by the synchronized freeze of waiting lists across metropolitan areas in USA first, but then learned that's federally funded. i found only 1 paper regarding the effects of putting an artificial floor on rentals using seciton 8, but it was from 1983. according to the authors it resembles a union, great for those that got it, very bad for those that don't. lowering the subsidy per unit and giving it to more people (spending the same $) would be beneficial to everybody according to them (but not landlords imho when vacancy rates are low).
i listened to complains in the playground (from nannies, btw illegals are getting this vouchers too, like most benefits from the city including free childcare, they don't look into legal status) that there was nothing available for rent in the $500-$750 range and that the waiting list for section 8 was taking forever (7 years average in nyc, 3.5 years avg in usa). wonder whether section 8 has anything to do with having a high minimal rental in areas that have median incomes that don't sustain that at all. also many people getting income off the books would explain higher rent/(declared) income ratios