The United States has long had an affordable housing crisis, but it’s been exacerbated as of late by a surge in mortgage interest rates and low inventory.
The problem is especially acute for lower-income families.
One Portland, Maine-based startup is out to help address the problem by buying single-family homes in blighted neighborhoods, renovating them and then renting them out to very low-income families, the elderly and the disabled (or Section-8 voucher holders). That startup, Simply Homes, has recently secured $22 million in funding to further its efforts.
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