HUD Will Raise Housing Subsidies

Housing and Urban Development Secretary Andrew Cuomo is expected to announce today a federal housing subsidy hike for low-income renters in the nation’s highest-priced rental markets. It was not immediately clear whether Southern California would be included in the subsidy increase. Reuters news agency, citing a report by congressional sources, said the measure would raise the value of HUD’s “Section 8” housing vouchers in areas where rents are skyrocketing. HUD officials declined to comment, but a HUD background paper obtained by Reuters said the strong economy was pricing voucher holders out of the market in several areas across the country.