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Why Affordable Housing Developments Are Essential | Lane Lowry | Opportunity Zones & Real Estate Development
a Why A ordable Housing Developments Are Essential by Lane Lowry | Mar 2, 2021 | Real Estate Development
Everyone should have a roof over their head with comfortable living. However, often, someone’s income deprives them of providing their family with decent housing. If they do not make enough money, which many Americans face, they are often stuck with poor living conditions. This is why a ordable housing developments are essential. Not only does it bene t families and individuals in need, but it can also better the community. Health Bene ts Many studies have found that a ordable housing can improve the health and well-being of its residents. When someone can a ord to live in a nice home and comfortable living conditions, they can better manage their day-to-day lives, which relieves stress and improves their mental health. It also reduces the risk of developing health problems that are often associated with poor-quality housing. When individuals and families are unable to access a ordable housing, this can worsen physical and mental illness as well as expose them to health hazards like unsanitary https://lanelowry.us/why-affordable-housing-developments-are-essential/
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4/20/2021
Why Affordable Housing Developments Are Essential | Lane Lowry | Opportunity Zones & Real Estate Development
conditions. Improved Communities It’s not just families and individuals who would bene t from a ordable housing developments; it’s the community as a whole. When there is more a ordable housing for residents, this encourages residents to be more social, increases adjacent property values, leads to more businesses and job openings, and decreases crime rates. To provide better living and thriving communities, developers, housing organizations, and community advocates can come together. They can create beautiful, comfortable, and a ordable housing developments that can improve residents’ and communities’ overall quality of life. Boost in the Economy With more a ordable housing available, more people will be encouraged to move to that area. An increase in residents also increases employment opportunities. A ordable housing boosts the local economy by creating short-term and long-term jobs, bringing in more employers and employees, and growing consumer spending. With more jobs available thanks to a ordable housing, this also lowers the risk of evictions and foreclosures. While many try to argue that dropping rent prices and housing costs hurt the economy, studies have shown that it actually helps.
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