On Tuesday, May 26, join the Chicago Fed’s Economic Mobility Project for Vanishing Tax Credits and a Shrinking Market: Who Can Afford to Rent?, a virtual event focused on the Low-Income Housing Tax Credit, one of the nation’s primary tools for financing affordable rental housing and a key driver behind millions of units developed over recent decades.

That role played by the LIHTC program is entering a new phase. A growing number of LIHTC properties are reaching the end of their affordability periods, with nearly a million units expected to transition out of rent restrictions over the next decade. In many areas where market rents exceed restricted rents, this change could reduce access to stable, affordable housing for low-and-moderate-income households.

Drawing on new research coauthored by Dustin Ingram, senior community development specialist at the Chicago Fed, a panel of experts will discuss where and when these changes are occurring, how they impact local housing markets and workforce needs, and what they mean for the future of rental housing affordability across communities. Panelists will include:

• Edward Glaeser, Fred and Eleanor Glimp Professor of Economics, Harvard University
• Joseph Gyourko, Martin Bucksbaum Professor, professor of real estate, professor of finance, professor of business economics & public policy, the Wharton School, The University of Pennsylvania
• Janet Abrahams, president & chief executive officer, Housing Authority of Baltimore City

The discussion will be moderated by Norah Mulinda, markets correspondent, Bloomberg Television.