10:43 AM
Julio Barreto
Congress is expected to resume action on legislation (H.R. 3221, the Housing and Economic Recovery Act) which provides relief to homeowners facing foreclosure. Included in thislegislation is language creating a housing trust fund which provides resources for building of rental housing for extremely low-income house holds.Congress deserves much credit for moving rapidly to address the mortgage crisis; however, it must also be scolded for not moving as quickly to address the affordable rental needs of many equally distressed families. While homeownership is an admirable goal, it is not one within reach of millions of Americans. They are still in need of affordable rental housing but the cost of rental housing is eerily creeping out of their reach as well.The affordable housing crisis faced by...
