The Housing Loophole That Lets Wealthy Investors Raise Rents on Poor Tenants

Some 115,000 apartments in the U.S. have lost rent restrictions as a result, an estimate says.

Experts say conversions are exacerbating the nation’s shortage of affordable housing.

The loophole has remained open for decades despite widespread agreement among regulators and advocates about its harm.

Two industry insiders defend the qualified contract process as a way to fight the shortage of middle-income housing.

Without congressional action, the loophole remains on the books and a threat to poor tenants.

Advocates have had more success pushing for state-level reforms to address the problem.