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| ED BRADY |
EDITOR
The industry been looking for some acknowledgement from the field of presidential candidates that they understand the role housing plays in the success of the economy and welfare of Americans.
According to the Housing Wire part of Hillary Clinton’s $125 billion Economic Revitalization Initiative program is a $25 billion housing investment program that aims to “lift more families into sustainable homeownership.”
This will be accomplished by offering down payment assistance, increasing housing counseling programs, expanding beyond traditional credit scores, building more affordable rental housing, clarifying lending rules and other changes.
Ed Brady, chairman of the National Association of Home Builders, favors the housing impact of the former Secretary of State's recently economic revitalization agenda.
"We applaud Secretary Clinton for recognizing the significant role that housing plays in our local communities and economy and being one of the first presidential candidates to present a housing and community development plan that will help boost homeownership, rental housing and employment opportunities for the American people," Brady said.
Clinton's housing investment program targets the blight that is still dragging down many communities, addresses “skyrocketing” rents that are impacting the country’s working families, and the “barriers” that prevent many families from becoming homeowners
"Proposals such as providing a match for down payment savings, emphasizing homeownership counseling and taking steps to improve credit availability for qualified borrowers are all needed steps to boost homeownership," Brady said. "Secretary Clinton also recognizes the acute need to bolster the supply of affordable rental housing by proposing to increase the supply of Low Income Housing Tax Credits and remove local barriers to producing such housing. She also highlighted the importance of job training and apprenticeships as a path to economic opportunity, which the housing sector has a tremendous capacity to provide."
Clinton’s plan was also met with approval from J. Ronald Terwilliger of the Terwilliger Foundation for Housing America’s Families. Her plan does not include lowering lending standards for families that are "not prepared" to become homeowners.
"We appreciate Secretary Clinton's leadership on these vital issues and for putting housing front and center on the national agenda. We hope her vision will encourage other presidential candidates as they move forward on the campaign trail to focus on how housing can spur job and economic growth, something they have disappointingly yet to do," added Brady.