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The Washington Post: A timely, simple idea to boost affordable housing

The Washington Post, February 12, 2020: A timely, simple idea to boost affordable housing

Many low- and middle-income Americans are struggling to find an affordable place to live. Unemployment is low, and wages are up, but they aren’t keeping pace with the rapid increases in rents and house prices in much of the country. There is a severe affordable housing crisis, and it is set to get much worse.

Given the facts we’ll walk through in a moment, lawmakers need to address this crisis, which is why we wanted to highlight an idea that’s a timely part of the solution: a bill (H.R. 5599) designed to channel significant resources into the Housing Trust Fund, a program with a strong track record in supporting affordable rental housing. The bill calls for no new funding relative to current policy: Its funding comes from preventing the scheduled sunset of a small, existing fee paid by homeowners getting mortgages insured by Fannie Mae and Freddie Mac.

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