Private market provision of low‐income housing: Historical perspective and future prospects

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Abstract
The unaided private market provision of new low‐income housing is substantially a fantasy. There is little on the horizon to alter this situation in the next decade. The income/cost gap is so substantial as to overcome the decline in household formation and positive changes in job patterns that have been advanced as bridge mechanisms. To set the debate in context, an overview of the demographic and economic future of the United States is provided and mainstream forecasts of economic and demographic trends affecting housing supply and demand are reviewed. Particular attention is given to demographic maturation and shrinkage, household diversification and segmentation, and income and poverty dynamics.

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