National Fair Housing Alliance Issues Statement Following President Biden’s State of the Union Address

FOR IMMEDIATE RELEASE
March 8, 2024

Contact: Janelle Brevard | jbrevard@nationalfairhousing.org

Washington, D.C. – In response to President Joe Biden’s State of the Union Address, Nikitra Bailey, Executive Vice President of the National Fair Housing Alliance (NFHA), issued the following statement:

“From coast to coast, in rural, urban, and suburban areas individuals and families want solutions to the nation’s fair and affordable housing crisis as housing continues to be a major driver of inflation. Further, data shows housing’s impact on inflation will not subside until the end of 2024 or beyond. And people across the political spectrum support robust policies to address the skyrocketing cost of housing, including addressing continually rising mortgage loan interest rates.

Last night, President Biden briefly outlined his policy vision for the future and stated a need to tackle the nation’s fair and affordable housing crisis by noting too many American families are struggling to afford safe, reliable housing. Even before addressing the nation on Thursday evening, the Biden administration announced support for a tax credit for first-time buyers, providing up to $25,000 in down payment assistance for first-generation homebuyers whose families have not benefited from prior federal investments in homeownership, lowering home buying costs and holding corporate landlords accountable for attempting to inflate rents to increase profits.

Housing plays a pivotal role in shaping the lives of every individual. The availability of fair and affordable housing is not just a basic need; it is a cornerstone upon which individuals can thrive and communities can have essential resources like clean air and water, well-resourced schools, safe credit, quality internet services, and robust job opportunities.

NFHA and our partners, including civil rights agencies, local community-based organizations, and industry stakeholders, worked with policymakers to develop a comprehensive housing and legislative package that would have significantly lowered the cost of housing and created millions of affordable units through the House passed Build Back Better Act. The failure of the package to receive any bipartisan support has resulted in the US needing 7 million new affordable housing units today.

While the President’s remarks in his address pinpointed some of the challenges presented by the nation’s fair and affordable housing crisis, there is still much work to be done. In addition to the actions outlined in President Biden’s address, the administration must:

• Work with HUD to update the Fair Housing Initiatives Program to remove administrative barriers, streamline the process, and ensure funds flow to communities more quickly;

• Crack down on discriminatory tenant screening algorithms and other AI that perpetuates bias in housing and lending decisions by fully enforcing existing civil rights laws;

• Implement the plan to compel Federal Home Loan Banks to increase their investments in affordable housing development by increasing the amount of funds they contribute from 10% of their profits to 20% of their profits;

• Complete all actions identified by the PAVE Task Force to help reduce unfair appraisal practices that work to lock communities of color out of the opportunity to fairly access credit; and

• Ensure Fannie and Freddie implement protocols that promote fair housing throughout the country.

Congress should also quickly pass a budget that provides necessary funding for local fair housing enforcement agencies on the front lines working to combat over 4 million incidences of housing discrimination every year. It should also pass comprehensive legislation that advances sensible solutions like the Downpayment Toward Equity Act and the Neighborhood Homes Investment Act with fair housing principles. Only by fully addressing the nation’s fair and affordable housing crisis can Americans get the relief they deserve. Supply-side solutions are inadequate by themselves and must be part of a complete effort to ensure the nation’s economic recovery leaves no one behind.”

The National Fair Housing Alliance (NFHA) is the country’s only national civil rights organization dedicated solely to eliminating all forms of housing and lending discrimination and ensuring equal opportunities for all people. As the trade association for over 170 fair housing and justice-centered organizations and individuals throughout the U.S. and its territories, NFHA works to dismantle longstanding barriers to equity and build diverse, inclusive, well-resourced communities.