The Affordable Homeownership Coalition
meeting the homeownership needs of a new generation
The Affordable Homeownership Coalition is a bipartisan alliance of the nation’s leading home mortgage lenders, home builders, real estate professionals, community development groups, civil rights organizations and consumer advocates committed to expanding home ownership opportunities for low- and moderate-income households. We are united in recognizing that the nation needs more homes and more homeowners if we are to meet the social and economic challenges facing the country.
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On August 19, AHC brought a variety of perspectives together for a Qualified Mortgage Rule (QM) Roundtable. Based on the valuable insights shared at the roundtable, we have compiled an Executive Summary and a more detailed Overall Summary. We also have a Primer on the QM rule discussed at the roundtable to provide context.
The Affordable Homeownership Coalition will work with federal, state and local officials to advocate for policies that will help overcome barriers preventing the construction of new homes and improving the condition of vacant or abandoned homes to meet the homeownership needs of a new generation.
In addition, we aim to increase the number of borrowers who can qualify for sustainable homeownership loans at competitive rates so that more families can build wealth through owning homes of their own.
Affordable Homeownership Crisis:
- Home inventory shortage
- Homes being converted to rental
- Labor and construction costs soaring
- Land-use restrictions
The Affordable Homeownership Coalition is working across political party lines to increase awareness of the affordable homeownership crisis, advocate for increasing the nation’s inventory of homes and ensure that qualified borrowers can obtain affordable mortgage loans.
Among our recent advocacy actions:
The AHC joined with the National Community Reinvestment Coalition to submit a statement in connection with a hearing in the House of Representatives’ Financial Services Committee that focused on barriers to minority homeownership
Advised leaders of the Administration’s newly created Council to Eliminate Regulatory Barriers to Affordable Housing
Briefed Democratic and Republican congressional staff leaders of the Financial Services Committee
Analyzed the likely impact on affordable homeownership expansion of the Administration’s housing finance reform proposals
Milwaukee Neighborhood News Service: OPINION: There’s new-found momentum for affordable homeownership in Milwaukee. Let’s not mess it up, local and state leaders.
Nationwide, 64% of Americans own their homes. In Milwaukee, merely 52% do. And the challenges are substantially greater for lower-income households and people of color. The differences are as plain as black and white – literally.
The share of African Americans who own their homes fell from 43.8% in early 2012 to 40.6% in the second quarter, according to the U.S. Census Bureau. By contrast, the white homeownership rate has edged down slightly, from 73.5% to 73.1%. In 2004, during the housing boom, nearly half of black people owned their homes.
Entry-level home buyers outnumbered sellers in the Twin Cities metro in October, boosting prices and stifling sales of houses priced at less than $300,000. For those willing to spend more than that, it was a radically different story — sales and listings of move-up properties increased double-digits.
Census Bureau’s Housing Vacancies and Homeownership Survey show minority homeownership rate rose 0.9% to 48.3% during Q3 2019.
While there has been a growing widespread discussion concerning economic inequality at the national level, there has been less focus on best practices to address it on the local level.
Washington, DC — The National Community Reinvestment Coalition Community Development Fund (NCRC CDF) has been awarded $420,000 from the Community Development Financial Institutions (CDFI) Fund. This week, the CDFI Fund announced that it has awarded more than $160 million to 152 organizations through the FY2014 round of the CDFI program. “The NCRC Community Development Fund
Generating Real Opportunities for Work Transforming Housing Initiative Announced by President Clinton at Clinton Global Initiative America Meeting Washington, DC – The National Community Reinvestment Coalition (NCRC) and its principal partners, including Chicanos Por La Causa (CPLC), NALCAB—National Association for Latino Community Asset Builders and the AFL-CIO Building and Construction Trades Department (BCTD), introduced today