Affordable housing programs and schemes have a number of advantages in the USA and the world. In St. Louis Missouri, a lot of public housing programs are coming up in the metropolitan area. The Board of managers here are emphasizing on the benefits that such programs can render to the community at large. These programs offer advantages in the field of education, health, and society. With the aid of such housing programs, the cycle of poverty can be ended. The executive board of such programs benefits the community at large as education, and social standing of applicants who wait for the letter of approval can see a glimmer of hope when times are bad.

Martin LaMar- how can affordable housing programs help the economy?

Martin LaMar is the Regional Vice President at McCormack Baron Salazar. He has invaluable experience in the fields of property management, real estate, community development, human capital, new market tax credit, asset management, consulting in community development and community development. He has served as President cum CEO with Lucas Metropolitan Housing Authority and Senior Vice President at Philadelphia Housing Authority. Mr. LaMar says that affordable housing is the direct result of strong partnerships between community leaders, housing developers, and governments. Some private companies and institutions have stepped in to provide help. A blade of builders steps in to consider whether a project is feasible or not. They determine the costs of building the structure as well as providing the basic infrastructure to the final construction.

What does affordable housing mean?

In places like Grefe, affordable housing has become very popular. The term affordable means that the owner does not have to pay more than 30% of his or her income on the property. In most regions, affordable housing is built for those families that have an income less than 60% of the average median income of the place. Affordable housing schemes have the ability to terminate poverty for several families. It also provides a multitude of social service programs that include wellness programs, child care, programs for children after school and more. It helps the homeless to get a shelter over their heads. It provides people with savings on healthcare and systems relating to public safety.

How are employers benefitted with affordable housing schemes?

These affordable housing programs also serve employers. They are able to retain employees better. This increases their competitive edge in the market. These schemes can also boost economic activity with temporary construction. This again helps to generate jobs in the economy. The employer is able to retain employees better. Jobs are generated, and the economy grows.

Martin LaMar says that the advent of affordable housing can bring in a lot of development and improvement in the economy. However, it needs to be managed well. The operations of the housing schemes and programs have to be organized keeping in mind the present needs of the people. Awareness and training have to be intensified so that everyone involved in the provision of affordable housing can do justice to their jobs and help families from lower income groups find a job.