Habitat for Humanity statement on the historic lack of housing supply in the U.S.
Chris Vincent, Habitat for Humanity International’s vice president of government relations and advocacy, issued the following statement regarding Habitat for Humanity’s mobilization efforts on Capitol Hill to combat the ongoing home affordability crisis.
WASHINGTON, D.C. (Feb. 7, 2023) — Construction of entry-level homes has steadily declined since the 1970s, putting the dream of homeownership largely out of reach for many Americans. The rise in construction costs, ongoing labor shortages and prolonged supply chain disruptions continue to exacerbate the U.S. housing shortage, which Freddie Mac estimates to be 3.8 million units. Skyrocketing inflation has made the situation even more dire for low-income households that already struggle to make ends meet and find themselves foregoing other basic needs like food, safety and healthcare to cover the cost of housing.
Congress needs to take action now by enacting bipartisan federal housing policy solutions and supporting robust funding for federal housing programs that will meaningfully increase the supply of affordable homes across the country.
This week, Habitat is mobilizing more than 375 leaders and advocates to meet with members of the White House and more than 300 Congressional offices in Washington D.C., calling on Congress and the administration to meaningfully address the historic deficit of housing supply in the U.S. One specific action we are seeking is for Congress to pass the bipartisan Neighborhood Homes Investment Act, a legislative priority of Habitat’s Cost of Home campaign that would offer tax credits to attract private investment for rehabilitating homes for low- and middle-income homeowners, creating a pathway to neighborhood stability through sustainable homeownership.
Our vision of a world where everyone has a decent place to live will only be realized by prioritizing policy that increases the affordable housing supply.