HUD REPORTS 20 PERCENT JUMP IN “WORST CASE NEEDS” FROM 2007 TO 2009

WASHINGTON, DC – February 1, 2011 – (RealEstateRama) — In a report to Congress released today, the U.S. Department of Housing and Urban Development (HUD) found that “worst case housing needs” grew by nearly 1.2 million households, or more than 20 percent, from 2007 to 2009 and by 42 percent since 2001. “Worst case housing needs” are defined as low-income households who paid more than half their monthly income for rent, lived in severely substandard housing, or both.