median income of $71,900, while a third of U.S. Only 57 percent of homes sold in the last three months of 2018 were affordable to families earning the U.S. Tuesday's hearing made clear that the state of public housing was tied tightly to the overall housing market, where prices have become increasingly unaffordable for residents of nearly every income level. Democrats generally favor the increased spending on housing programs, while Republicans praised the provisions concerning rural housing and incentives for reducing local regulations on new housing.īuilders Push for Looser Local Regulations
Her plan seems designed to attract support from both sides of the aisle. Studies have found that the lack of affordable housing hurts economic productivity and wages.” “Neglecting our housing infrastructure hurts our economy.
“Our public housing system, which houses 2.6 million Americans, is … in dire need of investment to repair kitchens, elevators, baths, doors, windows and roofs,” Waters said Tuesday. $10 billion in new money for the Community Development Block Grants (CDBG) program, which would be used as an incentive to encourage cities to drop or scale back impact fees or other regulations that add to the price of new housing.$1 billion to help Native American tribes address substandard housing on their lands and.$1 billion for repairs and upgrades to rural housing for low-income residents.$5 billion to help communities prepare for natural disasters.$5 billion in block grants to states to construct new public housing under the national Housing Trust Fund.$70 billion for physical improvements to existing public housing.Maxine Waters, the California Democrat who chairs the committee. The hearing was on a draft proposal from U.S. “Like roads and bridges, affordable housing is a long-term asset that helps communities and families thrive.” “An infrastructure spending package is an opportunity to respond,” Diane Yentel, the president and CEO of the National Low Income Housing Coalition, told the House Financial Services Committee.
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