The Low-Income Housing Tax Credit (“LIHTC”) creates a channel for private investment in affordable housing. Investors partner with developers to build low-income housing projects: they provide the up-front capital needed for construction and receive a ten-year stream of tax credits generated by the property. Today, banks are the largest investors in LIHTCs, motivated primarily by the Community Reinvestment Act (“CRA”). The homogeneity of the investor pool renders the affordable housing market susceptible to shifts in investor demand. The financial crisis slashed revenues across the country, reducing demand for tax credits. While the market has begun to recover, communities outside of CRA assessment areas still receive less LIHTC financing.