The MacArthur Foundation has announced plans to spend $32.5 million to preserve more than 70,000 affordable rental homes in 12 states. "The end of the housing bubble, foreclosures, and economic decline underscore the importance of affordable rental housing," said Jonathan Fanton, the foundation's president. "We now have an opportunity to restore rental housing to its proper place and to reshape the policy environment so that it both encourages rental housing preservation and makes it easier to do so."

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