With widely fluctuating home prices and stagnating or declining wages, homeowners are struggling to stay in affordable homes. In today’s economic climate, more people not traditionally perceived as seeking “affordable housing” are facing affordability issues. A new term, “workforce housing,” has been coined to describe these households. This group may include teachers, police officers and fire fighters as well as health care workers, retail clerks, administrative personnel, and other moderate-income workers who receive little or no public assistance and are essential to local economic growth.
NAHB urges Congress and the President to prioritize the 1949 National Housing Act, which emphasizes the importance of a decent home and suitable living environment for all American families.
NAHB also recommends that the federal government increase housing funds to deserving communities while decreasing support to communities that do not prioritize affordable housing. In addition, NAHB encourages state and local governments to promote this initiative, and urges the business community to participate as well. In October 2015, NAHB prepared a detailed response to Congress on how it can modernize HUD yet still protect affordable housing programs.
Why It Matters
Housing affordability enables all Americans to have a home and adequate living conditions. It also is a critical piece of community development and local economic growth, and an important part of the housing recovery.