Affordable housing developers are facing significant challenges due to the rising cost of property insurance as outlaid in a recent New York Times article. Nonprofit developers, who cannot raise rents, are being squeezed by these escalating costs, leading to the sale of low-rent units to landlords who can charge market rates. In severe cases, entire affordable housing projects are being scrapped, exacerbating the housing crisis. This issue is particularly severe in states like Florida, Texas and California, where increased frequency of extreme weather events is driving insurance premiums higher, threatening the viability of affordable housing projects. Developers are urging local, state and federal authorities to implement stronger building codes and explore federal reinsurance options to mitigate risks and concerns that are driving insurance costs up. Some insurers support using alternative construction techniques but warn against overregulation, which could further destabilize the market.