Two ideas to lower the cost of housing

If our nation’s housing policy were a house, the roof would be leaking, the floors would be creaking, and discolored 1970s wallpaper would be peeling off the wall.

We’re facing a housing crisis in this country and it’s time for a total renovation.

If you’ve owned a home for 30 years, you might be doing OK. But if you’re a 30-year-old in Portland, or Denver, or Boston paying off a six-figure student loan, you’re lucky if you can find an affordable place to rent, let alone save for a down payment.

We need more affordable housing and we need it now. That’s why I’m fighting for a sustained investment in building and rehabilitation rental housing that is affordable for middle class working families, while expanding incentives to build housing for low-income and homeless families.

We also need to do more to help renters buy their first home, which has become impossible for many in major cities. That’s why I’ve proposed a First-Time Homebuyer Tax Credit, which would give renters real help with a down payment in the fiercely competitive real estate market. 

This affects our entire economy. The high cost of housing is making it impossible for families to save for retirement and spend money in the local economy. That means a future retirement crisis, and depressed economic growth and job creation.

As Congress reconvenes after the election I will keep up the fight to lower the cost of housing and make it easier for families to buy that first home. This is an urgent problem and we need to get it right.

Ron