This week in real estate, some uplifting news for low-income families arose! The U.S. Department of Housing and Urban Development, or more commonly known as HUD, has set aside more than $100 million in grants to aid low-income families in removing lead-based paint hazards in their homes. Lead-based paint is a common problem for many homes built before 1978 and exposure has been linked to a host of physical and mental health problems. That little one-page lead-based paint disclosure form in your contract is indeed a big deal.
Unsafe and unhealthy homes affect the health of millions of people of all income levels, geographic areas, and walks of life in the U.S. These conditions affect the economy directly, through increased utilization of health care services, and indirectly, through lost wages and increased school days missed. The housing improvements that communities make using these grants will help prevent illnesses and injuries, reduce associated health care and social services costs, reduce absentee rates for children in school and adults at work, and reduce stress, all which help to improve the quality of life.
That’s a big win for homeowners everywhere!