Is there a real danger of losing affordable housing stock?
Indeed, there is a real danger of losing a number of Section 8-assisted properties if the project-based system is discontinued. Section 8 subsidy contracts will be expiring for more and more properties in the next few years. According to an August 1993 report by the General Accounting Office, Section 8 contracts covering 61 percent of the total Section 8 units were expected to expire within the next five years. This includes several in the greater Los Angeles area. If these contracts are not renewed, these properties and units could be lost from the stock of decent and affordable rental units.
