Executive Council for Housing Affordability Urges Congress to Act Bipartisan Action Needed "to Address Affordability Crisis"

Affordable Housing Crisis newspaper headline and magnifying glass

According to a recent item published by the National Housing Conference (NHC), the Executive Council for Housing Affordability (ECHA) at the J. Ronald Terwilliger Center for Housing Policy sent a letter to Congressional leaders on November 8, “urging them to work together to pass comprehensive, bipartisan legislation to address the housing affordability crisis and its root cause, lack of supply.”

ECHA represents corporations that seek to elevate housing policy as a national priority, including Airbnb, Amazon, and Zillow, among others. Their letter was sent to Senator Sherrod Brown (D-Ohio), Chairman of the Committee on Banking, Housing, and Urban Affairs; Senator Tim Scott (R-S.C.), Ranking Member of the Committee on Banking, Housing, and Urban Affairs; Representative Patrick McHenry (R-N.C.), Chairman of the House Financial Services Committee; and Representative Maxine Waters (D-Calif.), Ranking Member of the House Financial Services Committee, and emphasized how “the supply-demand mismatch has impacted communities across the country, leading to a shortage of 4.3 million units and severe increases in housing costs.” 

The letter cited a poll from the Bipartisan Policy Center and Morning Consult that found three out of four adults said “The lack of an adequate supply of affordable homes is a problem in the United States, and 75% of adults think passing bipartisan legislation to increase the supply of affordable homes and help address high housing costs should be a priority for Congress this year.”

The signees concluded by encouraging Congress “to take steps to increase the supply of affordable homes, preserve our existing stock of low- and moderate-income housing, and support those struggling with high housing costs. These actions can improve the quality of life for all Americans and at the same time strengthen our nation’s economy.” The full text of the letter can be read here.

Related Articles

Report: Only 17.0% of NYC Homes Are Single-Family

Report: Only 17.0% of NYC Homes Are Single-Family

Big Apple's Share Lowest in U.S.

Real estate developer and managing property investment concept. Selective focus wooden houses with question mark on wood table

Another Year of Modest Growth for U.S. Condos & HOAs in 2024

CAI Housing Experts Weigh In

Arrow showing oscillation, fluctuation or stagnation. Economic crisis, persistence and progress concept. Flat design. EPS 8 vector illustration, no transparency, no gradients

New York Co-op & Condo Sales in Gridlock - for Now

High Interest Rates the Main Culprit

National Housing Conference Launches Bimonthly Podcast

National Housing Conference Launches Bimonthly Podcast

Conversations to Focus on Affordable Housing Solutions

line graph comparing wage growth versus housing prices since 2000

88 Working Hours Per Week

That's What it Takes to Buy a Median-Price Home in the NYC Metro

NY-NJ Metro Area 12th Highest in the Nation for Property Taxes

NY-NJ Metro Area 12th Highest in the Nation for Property Taxes

Short Supply + High Values = Tough Going for Homebuyers

 

2 Comments

  • One can only hope the new proposed laws consider those of us in the tri-state area of NY who pay mortgages, high monthly maintenance and usually see NOTHING for all the increases every year including NO security cameras (which are cheap nowadays), very few, if any amenities, grass that is all crab and visibly crapped on by animals, unfair or N0 enforcement of rules, board members obviously serving for selfish reasons that do NOT benefit the unit owners, allowing 50+ percent renters (unfair again to the UNIT owners). You need to level the playing field if you want to keep good, quiet, rule following unit owners especially those who have NO screaming kids, NO parties and NO barking dogs!!!!!!!! The new law requiring settlement conferences only for reverse mortgages or HELOC foreclosures is a joke since most complexes will not approve them anyway except maybe some in Manhattan. Back to the drawing board lawmakers!!!!
  • You also need to cap taxes, cap yearly maintenance increases, cap insurance increases, require proof of earning raises (increased responsibilities rather than just giving Union workers a huge raise every year, the list can go on and on....