Quite a number of Rainers have given space in their blogposts to the issue of affordable housing. Dollar Days House Hunting in Grand Rapids, Michigan by Lola Audu; Miami-Dade Offers New Affordable Housing Portal by Maggie Dokic and Affordable Housing by Deb Hurt, just to name a few. Clearly, social consciousness is not lacking in this community. While we are professionals seeking to carve out a living, many of us are engaged in efforts to promote affordable in the communities that we serve.

Finally, our collective voices and efforts have been heard in the nation's capitol. At the end of June, legislation was introduced on Capitol Hill that would create a National Affordable Housing Fund for the building, rehabilitation and preservation of affordable homes and rental units. The bill, "National Affordable Housing Trust Fund Act of 2007," H.R. 2895, would make funds available for rental housing and down payment and closing cost assistance for low-income people.

The call to action that begs our attention -  contact your congressional representative and ask that they support H.R. 2895. While you're at it, don't forget to ask for the support of H.R. 5121, which will bring much needed reform to the RESPA.

 

4 Comments on Affordable Housing Gets A Life Line

JUL
25
2007
736,418 Points 65 Featured Posts Outside Blog

Interesting concept, if I understand you correctly. Are you saying that if you are low income family that the government will assist you in buying your first rental property?

As well as help those who are just looking to get into their first home?

If this is true, this is great news for first time investors who just need a little help starting out.

1:06am • #1
138,874 Points 7 Featured Posts Outside Blog

Todd,

Thanks for stopping by. The bill does allow individuals to purchase one to four family units as an owner occupant. I have updated the post to include links to both pieces of legislation.

7:35am • #2
JUL
26
2007
736,418 Points 65 Featured Posts Outside Blog

Thanks William for the update and I think this will really help a lot of families get off on the right foot when it comes to owning investment properties. I wish I had bought a duplex or triplex when I was younger.

12:34am • #3
JUL
28
2007
213,784 Points 41 Featured Posts Outside Blog
William, I was so happy to read this.  It's about time!  Housing affordability is a big issue in my county.  With my present salary I could not qualify for the home I purchased 6 years ago.  It is very hard for people just starting out.  I'm looking forward to the changes.  Thanks for the mention.  =)
4:52am • #4

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William Collins, Broker Associate

South Orange, NJ

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ERA Queen City Realty

Office Phone: (973) 275-5454 x 11

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