BANK OF AMERICA
Breaking new ground: The fight for affordable housing
Driven by a growing economy and strong stock market, home and rent prices have steadily increased for nearly 10 years straight. While this growth has been a boon for owners, renters are increasingly finding it harder to find stable, long-term housing. In fact, nearly 40 million Americans cannot afford their current homes—spending as much as half of their incomes just to meet their rent.
To help solve an issue as large as the affordable housing crisis, city, county and state governments, nonprofits and private companies will need creative new ideas. That’s the approach Bank of America and its partners are taking to address housing shortages in San Francisco and Los Angeles.
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