Special state programs and housing expenses in the USA
The housing market in the United States is huge and is in constant movement. We’ll have everything, from cheap apartments in areas where not everyone dares to live, to luxurious mansions worth fabulous money. As expected to the market, it obeys the law of demand and proposal. The state of the market, when 6-7% of the rental housing is empty, is considered healthy. Exceeding demand over the supply leads to an increase in prices and vice versa, when demand falls – prices are reduced. In the period when the economy is on the rise and a larger number of people can afford the best housing, prices are inevitably rising and people with fixed low income have a smaller choice.
In the USA it is considered normal when housing expenses make up 30% of the family income. There are special state programs for low -income families that make it possible to facilitate the burden of housing expenses. The most common are Public Housing (public housing) and Section8 (section No. 8, added to the Law on the Housing, adopted in 1937 and is often called the “eighth program” in the Russian -speaking environment).