Reis in the News
By Elina Tarkazikis
Source: National Mortgage News – Tax reform could spell trouble for LIHTC affordable housing
Lower corporate tax rates weakened the incentive for developers to use the Low-Income Housing Tax Credit program, which could prompt affordable housing construction to fall by as much as 40% by 2022, according to data aggregator Reis.
Affordable housing supply under the LIHTC program rose 0.9% from a year ago and inched up 0.7% for the third consecutive quarter, Reis said. The national vacancy rate of the sector also held firm at 2% for the third consecutive quarter, but jumped 20 basis points from the second quarter of 2017.