San Diego’s Housing Agency Won’t Issue Vouchers for New Housing Projects (Like many housing programs, they’ve run out of funds)

This is actually rather concerning since the lack of guaranteed voucher support for these homes will make them riskier to build helping keep supply lower which makes available voucher funds spend more per person which makes them run out.

It’s not a death spiral, but it is a stall.

Some choice paragraphs from the article

>That mismatch and a commitment to keep handing out project-based vouchers has meant the city’s housing agency hasn’t pulled families from its tenant-based Section 8 voucher waiting list for more than two years.

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>Not doling out more of those for the foreseeable future means the region will eventually see a slowdown in new housing for those with the lowest incomes, especially people now living on the streets who desperately need homes with supportive services to stabilize.

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>“We’re now at the point where we have exhausted that resource almost entirely,” Clumpner said.

>Wakeland Housing and Development Corp. CEO Rebecca Louie is concerned how the agency’s decision to stop offering project-based vouchers will affect the production of housing for especially low-income San Diegans for years to come.

>“It just means we’re going to be building less for our very, very poor,” Louie said.