Affordable housing comes into focus ahead of US midterms

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Two political initiatives in the US have raised the prospect of public subsidies for low-income housing and rent controls, a move that real estate investment trusts are keen to resist.

In California, residents are set to vote on the Proposal 10 referendum in November while Senator Elizabeth Warren of Massachusetts on Tuesday proposed the American Housing and Economic Mobility Act, which would use roughly $500m federal funds to build up to 3.2m new residential units.

If passed in a ...

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