Categories: Press
04.08.2014
Letter argues for funding of the National Housing Trust Fund
The Network’s own Ted Houghton published a letter to the editor today in the Wall Street Journal.
The letter, available here, responds to a March 31 editorial on low-income housing and Fannie Mae and Freddie Mac. Mr. Houghton co-wrote the piece with Todd Gomez, a member of the Network’s Board of Directors. The two are also two co-chairs of the Housing First! coalition.
Mr. Houghton and Mr. Gomez argue that Congress must fund the National Housing Trust Fund (HTF), a long-unfunded potential source for low-income housing development. Their words echo the mission of the United for Homes campaign, a national coalition to fund HTF. Mr. Houghton sits on the national steering committee for United for Homes.
In their letter, he and Mr. Gomez write:
"In New York City, where the average Manhattan rent exceeds $3,000 a month, the trust fund will create apartments costing closer to $1,000 a month for families earning less than 50% of area median income (about $39,000 for a family of four). Two in three qualifying families pay more than half of their income on rent right now according to the U.S. Census, with little left over for essentials like food, clothing and medicine. And 52,000 New Yorkers are unable to find an affordable home at all and will sleep in municipal homeless shelters tonight. These are challenges that must be addressed. Investing in the development of affordable housing is a proven solution, whereas your editorial offers none."
We urge you to read and share their latest letter to the editor.