The expense of development is considerable. Before people move in and start paying rent, developers rely on loans and other sources to fund development. However, developers can only obtain these loans and equity sources if the property can generate sufficient revenue to repay the debts and provide returns to investors.

The FHLBanks are a group of 11 regionally based wholesale lenders that provide funds to a wide range of financial institutions, including community banks, credit unions, commercial and savings banks, insurance companies, and community development financial institutions. The FHLBanks are co-owned by member financial institutions from all 50 states and territories in the United States.

The public housing waiting list is always open, although there are now thousands of households on it. "If you need a one-bedroom apartment in a high-rise, the wait is only six months to a year," he explains. Families often wait three to five years for larger flats, such as three bedrooms.