The House of Representatives passed its version of the FY11 federal budget on February 19th, with $61 billion in cuts compared to last year’s budget. This includes a 12% cut to affordable housing and community development programs, which would have to be absorbed in the seven months remaining in this fiscal year. The final outcome of this budget debate will greatly influence the upcoming FY12 budget process.
Housing News
June 21, 2011
To read the full press release from the House Financial Services Committee, click here.
To read Congressman Barney Frank's response, click here.
June 21, 2011
An Annual Look at the Housing Affordability Challenges of America’s Working Households
By Keith Wardrip February 2011
This brief summarizes the key findings of an analysis of housing affordability trends for working households (see sidebar) between 2008 and 2009. The analysis shows that nearly one in four working households spends more than half of their income on housing costs. And despite falling home values, housing affordability worsened significantly for working owners and renters between 2008 and 2009.
June 21, 2011
Click here to view the full plan.
June 21, 2011
BOSTON - U.S. Department of Housing and Urban Development Secretary Shaun Donovan today announced President Barack Obama's selection of Barbara Fields to serve as HUD's Regional Administrator for the six states in HUD's New England Region including Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont.
Please click here to read the full press release.
June 21, 2011
BOSTON – Wednesday, February 16, 2011 – As part of the Patrick-Murray Administration's ongoing commitment to build strong communities by increasing affordable housing options, creating jobs and expanding economic opportunity, Governor Deval Patrick today pledged $71.37 million in resources from various affordable housing programs to support the construction of 31 rental developments in 21 communities across the Commonwealth. These funds will create an estimated 2,000 construction jobs.
June 21, 2011
Please click here to review the President's proposed FY2012 budget.
HUD's summary of the budget can be found here.
June 21, 2011
Please click here to review the proposed cuts (HUD numbers can be found on page 18).
Call your Representative now, and urge them to oppose these proposed cuts. Visit the NLIHC Action Alert page for more information.
June 21, 2011
The original structure of the U.S. housing finance market was put in place nearly eighty years ago. This report lays out the Obama Administration’s plan to reform America's housing finance market to better serve families and function more safely in a world that has changed dramatically since then.
Please click here to read the report.
June 21, 2011
WASHINGTON – In a report to Congress released today, the U.S. Department of Housing and Urban Development (HUD) found that “worst case housing needs” grew by nearly 1.2 million households, or more than 20 percent, from 2007 to 2009 and by 42 percent since 2001. “Worst case housing needs” are defined as low-income households who paid more than half their monthly income for rent, lived in severely substandard housing, or both.
HUD reports that 7.1 million households paid more than half their income for rent or lived in substandard housing.