Transcript
For families, individual renters, and senior citizens, the availability of affordable housing is rapidly shrinking. Inflation, higher interest rates, labor shortages, and skyrocketing construction costs have converged to drastically widen the gap between supply and demand. Today, in half of the largest US metros, a family earning the local median income can't afford a starter-home. Meanwhile, more than 11 million households headed by seniors are paying more than 30% of their income to housing alone.
These realities are forcing individuals into difficult decisions --moving in with relatives, doubling up to share single-family homes, and living farther away from their jobs --just to find an affordable place to live, which further impacts the economy. As one of the country's largest equity and debt financing providers for affordable housing, PNC Multifamily Capital is working with developers, investors, and local organizations to alleviate the affordable housing shortage.
PNC leverages its tax credit and syndication platform, balance sheet debt lending capabilities, and robust agency lending product suite to address today's complex housing landscape by expanding the acquisition, construction, and rehabilitation of affordable rental housing from coast-to-coast.
Learn how PNC Multifamily Capital is working to make home more affordable and more available in communities across the US.
