FOR IMMEDIATE RELEASE
March 8, 2024<\/p>\n\n\n\n
Contact: Janelle Brevard | jbrevard@nationalfairhousing.org<\/p>\n\n\n\n
Washington, D.C.<\/strong> \u2013 In response to President Joe Biden\u2019s State of the Union Address, Nikitra Bailey, Executive Vice President of the National Fair Housing Alliance (NFHA), issued the following statement:<\/p>\n\n\n\n \u201cFrom coast to coast, in rural, urban, and suburban areas individuals and families want solutions to the nation\u2019s fair and affordable housing crisis as housing continues to be a major driver of inflation. Further, data shows housing\u2019s impact on inflation will not subside until the end of 2024 or beyond. And people across the political spectrum support robust policies to address the skyrocketing cost of housing, including addressing continually rising mortgage loan interest rates.<\/p>\n\n\n\n Last night, President Biden briefly outlined his policy vision for the future and stated a need to tackle the nation\u2019s fair and affordable housing crisis by noting too many American families are struggling to afford safe, reliable housing. Even before addressing the nation on Thursday evening, the Biden administration announced support for a tax credit for first-time buyers, providing up to $25,000 in down payment assistance for first-generation homebuyers whose families have not benefited from prior federal investments in homeownership, lowering home buying costs and holding corporate landlords accountable for attempting to inflate rents to increase profits.<\/p>\n\n\n\n Housing plays a pivotal role in shaping the lives of every individual. The availability of fair and affordable housing is not just a basic need; it is a cornerstone upon which individuals can thrive and communities can have essential resources like clean air and water, well-resourced schools, safe credit, quality internet services, and robust job opportunities.<\/p>\n\n\n\n NFHA and our partners, including civil rights agencies, local community-based organizations, and industry stakeholders, worked with policymakers to develop a comprehensive housing and legislative package that would have significantly lowered the cost of housing and created millions of affordable units through the House passed Build Back Better Act. The failure of the package to receive any bipartisan support has resulted in the US needing 7 million new affordable housing units today.<\/p>\n\n\n\n While the President\u2019s remarks in his address pinpointed some of the challenges presented by the nation\u2019s fair and affordable housing crisis, there is still much work to be done. In addition to the actions outlined in President Biden\u2019s address, the administration must:<\/p>\n\n\n\n\n
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