Infinium Investment Advisors, LLC’s Post

Middle Income Housing tax credit (MIHTC) legislation - necessary and critical in a housing crisis - working to solve the entire housing affordability ecosystem #missingmiddle #affordablehousing #equitableaccess #housingcrisis

Multifamily tax exemptions floated as help for state’s affordable housing crisis Contact me to discuss the latest scoop in real estate! #darrinstumpf #yourfavoriteseattlerealtor #darrinstumpf #realestateseattle #buyingahome #realestateinvesting #darrinstumpf

Changes of the Low-Income Housing Tax Credit (LIHTC) within the $78 billion Tax Relief for American Families and Workers Act could revolutionize affordable housing. These changes may lead to the creation of approximately 200,000 new affordable housing units nationwide in the coming years!

The U.S. House of Representatives recently approved the Tax Relief for American Families and Workers Act of 2024, a $78 billion initiative designed to significantly boost affordable housing across the nation, with a particular focus on New York. This legislation is crucial for New York City and state housing authorities, which face intense pressure to provide enough affordable living spaces for their residents. Key components of this bill include strengthening the Low-Income Housing Tax Credit (LIHTC) program, a vital tool for financing affordable housing projects. Notably, the bill proposes to restore a 12.5% increase in the annual allocation for 9% LIHTC for the next two years and lower the private bond financing threshold needed to access 4% housing credits, making it easier to kickstart housing developments. Emily Cadik, leader of the Affordable Housing Tax Credit Coalition, highlighted that the bill's LIHTC provisions could support the creation of over 200,000 "shovel ready" affordable homes. She has called for the U.S. Senate to expedite the bill's passage, emphasizing its bipartisan nature and significant potential impact. The legislation arrives at a critical time for New York, where the housing shortage is particularly severe. In NYC, a substantial number of working families earn too little to afford the city's high cost of living. The bill's passage could catalyze the addition of up to 19,000 new rental units in New York State, alongside the creation of over 29,000 construction jobs, thereby generating substantial economic benefits, including $3.3 billion in wages and business income. This legislative effort is being hailed as one of the most substantial federal investments in affordable housing in recent decades, signaling a strong commitment to tackling the pers Contact me to discuss the latest scoop in real estate! #manhattanrealtor #brooklynrealtor #queensrealtor #bronxrealtor #westchesterrealtor #nyrealtor #nycrealtor #realtist #nyrealestate #douglasellimannewyork

Have you heard about the Affordable Housing and Homeowner Protection Act? It proposes transfer taxes on large landlords to strengthen housing opportunities. https://lnkd.in/g_i2Ckn3 #veteranowned #realestateinvesting #investmentproperty #investmentrealestate #transfertaxes

The Low-Income Housing Tax Credit is famously complex. We can't exactly make it simple, but we've broken down the basics, especially those that residents of a LIHTC property might want to know. https://bit.ly/3R7UbjN #LIHTC #landlordtenantlaw #housingpolicy

I typically do not post out much when it comes to legislation. But... The Senate is currently considering a bill that will allow for a transfer tax on homes. With limited time left in our legislative session, we need to make sure they understand the dire consequences this policy will have for our industry and housing in Massachusetts. This would harm the state, its economy, and your business. Please take action now to show your Senator your opposition to taxes that strip homeowner equity and worsen our severe inventory shortage. Transfer Taxes will: - Stifle diversity and inclusivity by raising the price to get into already expensive towns. - Worsen Mass longstanding housing affordability crisis by increasing the price to homeownership, often by thousands of dollars. Every $1,000 increase in the price of a home prices out 1,727 MA residents. Rentals are also impacted as increased tax costs will be passed along to tenants. - Decrease housing inventory by creating a new tax that home buyers and sellers can avoid by delaying transactions. They also shrink investment for new housing development. As a result, transfer taxes have been shown to decrease inventory by as much as 30% - Municipalities can utilize ample available stand funding to subsidize development, including the Community Preservation Act. People continue to ask me when will the market change - simple if you do not have inventory (and boy we need more) to supply the demand, prices will continue to increase. Take a moment to make your voice heard