Seniors are often forced to spend more than half of their income on housing
Washington, D.C. –– U.S. Senator Jon Ossoff is working to help seniors in Albany find affordable housing.
In a U.S. Senate Banking Committee hearing this week, Sen. Ossoff raised the challenges seniors in Albany face finding housing and highlighted the need for local, state, and Federal government policies to support the expansion of housing supply to serve American seniors in Georgia and nationwide.
Sen. Ossoff noted seniors in Georgia often have to spend more than half of their income on housing.
“A quarter of the approximately 300,000 Georgians who spend more than half of their income on housing are seniors. And across the state, I hear from seniors, from community leaders, from elected officials, about the acute housing shortage faced by seniors in Georgia,” Sen. Ossoff said in the hearing.
Audra Hamernik, President and CEO of Nevada Housing and Neighborhood Development (HAND), cited the importance of low-income housing tax credits and strong support services in combating senior housing shortages.
Click here to watch Sen. Ossoff’s line of questioning:
Please find a transcript of the exchange below:
SEN. OSSOFF: “Thank you, Mr. Chairman. Appreciate it. Like to begin with a question for you, Mrs. Hamernik. A quarter of the approximately 300,000 Georgians who spend more than half of their income on housing are seniors. And across the state, I hear from seniors, from community leaders, from elected officials, about the acute housing shortage faced by seniors in Georgia. In Albany, Georgia, for example, there is a crisis of affordable and accessible housing for seniors. Based on your experience and your analysis, Ms. Hamernik, what policies at the federal, state, and local level will support the expansion of housing supply to serve American seniors in Albany, Georgia, across Georgia, and across the country?”
MRS. HAMERNIK: “It’s tax credits. Its low-income housing tax credits. It’s getting capital into local marketplaces, just like Georgia or anywhere else, that allows developers to put bricks and sticks projects together and build. And, you know, tax credits are rental housing only. But it’s a great option when someone was mentioning earlier about downsizing and that being a good option. You know, downsizing into an apartment is, is a great solution for many seniors and it gets them in — especially when there’s strong support services –– it gets them into a real community where they’re much less isolated than living at home alone.”
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