The problem with Section 8 is not that so many families are able to use their vouchers to rent nice homes.
The Wall Street Journal published a story today that points out the sudden shift in bargaining power among voucher holders. In overbuilt housing markets, landlords are increasingly eager to rent to tenants that are guaranteed to pay rent. That preference would seem to be crystal clear: Who can blame landlords for wanting to get paid on-time, every month?
It would be one thing if this was merely a story about a program that is working to shore up demand for housing at a time when rental vacancy rates are high. Unfortunately, that (more…)