A new study commissioned by the U.S. Department of Housing and Urban Development (HUD) takes a look at the early success of the Obama administration's Rental Assistance Demonstration program. Wall Street Journal staffer Laura Kusisto takes a look at the results of the study which shows the program has attracted $2.5 billion of financing for repairs of more than 19,000 public-housing units as of October 2015.
This program converts public housing buildings to the Section 8 rental-subsidy program, sometimes giving partial control to private investors. The private investors are under certain restrictions and must keep rents below market-levels. While the program has it's share of naysayers, it's positive effects cannot be overlooked:
The program has thus far proven effective at bringing in private dollars to make repairs without requiring additional public dollars, according to the new study. For every $1 of public money invested, private investors contributed $9.