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NCRC applauds bills to address affordable housing, homelessness and downpayment assistance to first-generation homebuyers

Today, Rep. Maxine Waters (D-California), Chairwoman of the House Committee on Financial Services, released a package of housing bills that would invest over $600 billion in the nation’s affordable housing infrastructure, address homelessness by transforming the Housing Choice Voucher program (Section 8) into a federal entitlement, and authorize $100 billion in targeted downpayment assistance to first-generation homebuyers to purchase their first home. 

Jesse Van Tol, CEO of the National Community Reinvestment Coalition (NCRC), made the following statement:

“Chair Waters and members of the House Financial Services committee are setting a standard that steps up to the spectrum of housing needs facing the country. This package addresses the supply challenges across the market hampering low- and moderate-income borrowers and communities’ ability to achieve stable and affordable housing. It also helps answer the racial equity challenge of our time, which the Chair and the Biden administration have prioritized addressing, by authorizing targeted downpayment assistance — an important step towards bridging the nation’s homeownership divide. 

“We look forward to working with Chairwoman Waters, President Biden and Congress to advance this bold and visionary legislative package to address the nation’s affordable housing crisis and advance racial equity.”

 

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Redlining and Neighborhood Health

Before the pandemic devastated minority communities, banks and government officials starved them of capital.

Lower-income and minority neighborhoods that were intentionally cut off from lending and investment decades ago today suffer not only from reduced wealth and greater poverty, but from lower life expectancy and higher prevalence of chronic diseases that are risk factors for poor outcomes from COVID-19, a new study shows.

The new study, from the National Community Reinvestment Coalition (NCRC) with researchers from the University of Wisconsin–Milwaukee Joseph J. Zilber School of Public Health and the University of Richmond’s Digital Scholarship Lab, compared 1930’s maps of government-sanctioned lending discrimination zones with current census and public health data.

Table of Content

  • Executive Summary
  • Introduction
  • Redlining, the HOLC Maps and Segregation
  • Segregation, Public Health and COVID-19
  • Methods
  • Results
  • Discussion
  • Conclusion and Policy Recommendations
  • Citations
  • Appendix

Complete the form to download the full report: