MBA Comments at Congressional Hearing on Housing Affordability, Governmental Barriers and Market-Based Solutions

The Mortgage Bankers Association weighed in yesterday at the House Financial Services Committee’s Subcommittee on Housing and Insurance hearing on housing affordability, governmental barriers and market-based solutions.

“In recent years, as residential home values and costs related to rental housing have risen, access to ‘safe, decent, and affordable housing’ — the promise of the landmark National Housing Act of 1934 — has proven more elusive for a growing number of low-to-moderate income Americans,” the testimony said. “MBA believes the factors that have exacerbated our national housing affordability crisis are multifaceted and can only be solved through a series of incremental steps undertaken by the private, public, and non-profit sectors of our economy working in tandem – at the local, state, and federal levels.”

MBA also submitted information about its CONVERGENCE affordable housing initiative.

MBA noted it represents both residential and commercial/multifamily member firms committed to making affordable rental housing and home ownership a more obtainable reality for Americans nationwide. “The following testimony outlines a series of policy concerns and, importantly, tangible steps policymakers can undertake to reduce regulatory impediments, increase our nation’s affordable housing stock, and benefit renters and housing consumers,” the statement said.

Click here to read the full testimony.