If You Only Read One Thing Today (PolicyLink in the UK edition)
Thursday, March 20th, 2008The Guardian, the UK’s premier newspaper at covering in-depth issues in the States, today features an insightful piece on the “epic housing crisis” facing New Orleans. The article highlights the startling rental housing statistics researched by Annie Clark and Kalima Rose in the landmark PolicyLink report, “Bringing Louisiana Renters Back Home.” (pdf) The article features quotes from Ms. Clark, as well.
There are few incentives for landlords to renovate their rental properties. The Louisiana Recovery Authority’s “Road Home” program offers incentives for “small rental property owners” but it is not popular with mom-and-pop landlords, according to Annie Clark of progressive policy and research institute PolicyLink.
“A landlord says, ‘Yes I am going to rehabilitate my rental units,’” Clark explained, “but then he or she has to get a bank loan which is then paid back by Road Home. Banks are very hesitant to give loans to people this way.”
Clark added that Housing and Urban Development (HUD) has rehabilitated only about 1,500 units of the 4,600 units it has set aside for seniors, the disabled and poor working families in New Orleans. “HUD really has shirked its responsibility in these units,” Clark said.
The full piece is definitely worth a read to get a sense of the depth of the housing crisis still ongoing in New Orleans.

