From public housing to joint ventures: Lessons from the U.S. Housing policy development

Abstract

Almost eight decades have passed since the U.S. government first established its role in helping low-income families' housing consumption. The government efforts began with the public housing program, created in response to the housing austerity caused by the Great Depression. However, over the years the U.S. government has moved away from the public housing model. Instead, it has established a housing policy framework that features the participation of the private sector in affordable housing production, albeit with significant public assistance. Meanwhile, a greater emphasis has been placed on providing quality neighborhoods and expanding socioeconomic opportunities to low-income families. By examining the successes and failures in U.S. housing policy development, this paper will offer suggestions on what emerging economies like China can learn from the U.S. experience, given their ambitious efforts in expanding affordable housing provision to low-income families.