Episode 3: Financing solutions for the housing affordability crisis
Without financing, good ideas to address housing affordability often never get off the ground. Because of a number of complexities, it can sometimes be more expensive to build affordable housing than it is to build market rate properties. In this episode, judges and administrators of the Housing Affordability Breakthrough Challenge discuss problems and opportunities associated with financing.
The need for affordable, well-designed homes continues to exceed supply in the United States. Wells Fargo has launched the Housing Affordability Breakthrough Challenge in collaboration with Enterprise Community Partners to help close the affordable housing gap by elevating and transforming housing affordability innovations into real solutions. The Challenge will award six grants of more than $2 million each to innovators across the U.S. in the areas of construction, finance, and resident support services to bring their ideas to reality. In this special series, Wells Fargo brings together the Challenge’s judges and administrators — thought leaders from across the industry — to discuss the housing affordability quagmire, the priorities of the competition, and the areas of opportunity for innovation in creating impactful solutions.