Published: February 2022

Congress needs to prioritize affordable housing in future budget reconciliation bills

In a letter addressed to members of Democratic leadership, Consumer Action joined advocates in emphasizing the beneficial impact fair and affordable housing and homeownership have on the economy and on the financial health of those in vulnerable communities. Advocates urged Congress to support full funding that supports the production of and opportunity for affordable housing in every state as part of any future budget reconciliation bill.

Safe, fair, and affordable housing is central to the quality of life of American households. However, many of America’s renters and first-time homebuyers are struggling—especially during the pandemic. Millions are paying an overly high portion of their incomes in rent, and the inventory of apartments that are priced for low- and moderate-income households continues to shrink. Housing sale prices are soaring, contributing to inflation in many markets, and starter homes are severely constrained. The housing market needs a substantial investment to help increase the supply of affordable housing, improve access to homeownership, and address the troubling homeownership gap for communities of color.

Lead Organization

National Housing Resource Center (NHRC)

Other Organizations

Asian Real Estate Association of America | BALANCE | Consumer Action | Faith in Action National Network | Homeownership Council of America | Liberation in a Generation | National Association of Hispanic Real Estate Professionals (NAHREP) | Rural Community Assistance Corporation | Springboard Nonprofit Consumer Credit Management, Inc. d/b/a | Credit.org | Americans for Financial Reform | Center for Community Progress | Center For Responsible Lending | Consumer Federation of America | Habitat for Humanity International | Homeownership Alliance Mortgage Bankers Association | National Association of Realtors (NAR) | National Association of Home Builders | National CAPACD- National Coalition for Asian Pacific American Community Development | National Community Reinvestment Coalition | National Community Stabilization Trust | National Consumer Law Center (on behalf of its low- income clients) | National Council of Asian Pacific Americans (NCAPA) | National Housing Conference | National NeighborWorks Association | National Urban League | Prosperity Now | The Equal Rights Center | UnidosUS | Woodstock Institute | CCCSMD | CENTRO DE APOYO FAMILIAR | HomeFree-USA | Integrated Community Solutions, Inc | Housing Options Provided for the Elderly | Reinvestment Partners | Consumer Credit and Budget Counseling, Inc d/b/a | National Foundation for Debt Management | Esperanza Mon Valley Initiative | National Housing Resource Center | MMI | Catholic Charities USA | National Coalition For The Homeless | National Fair Housing Alliance

More Information

For more information, please visit NHRC’s website.

 

Download PDF

Congress needs to prioritize affordable housing in future budget reconciliation bills   (Budget_Reconciliation_Housing_Letter_2022_01.pdf)