Lets see where the three front runner Democratic candidates stand on this issue of affordable housing.
When I say "affordable housing," I mean housing as in a place to live, a home that is within the low-to-moderate income wage earners ability to afford. This could be a single family home, a condo, a rental apartment or something in between.
Last diary I wrote, here, was in regards to owning a piece of the American Dream.
I will look at how the candidates are talking about this issue on their official websites. I have refrained from using information second hand, such as news reports about their plans or about thier speeches.
I have limited my search to the three front runners, Clinton, Obama and Edwards, and in no order other than how they rate in the polls, I guess. You are welcome to add comments about the other candidates.
Here is what I found:
Clinton:
On her campaign site she addresses affordable housing:
http://www.hillaryclinton.com/...
Expand Affordable Housing:
Establish a $1 billion fund to provide federal support to housing trust funds established by state, county, and municipal governments. The rise in home prices over recent years, coupled with stagnant wages, has meant that people are committing an increasing share of their salaries to mortgage payments. Between 2001 and 2004, for example, the number of households paying more than half of their incomes on housing increased by 1.9 million. The Joint Center for Housing Studies estimates that housing is a "severe cost burden" for 15.6 million low- and middle-income households. Families facing such strains often forgo necessities. Other families simply forgo home ownership, or turn to high risk, alternative mortgage products. In order to encourage the development of affordable housing, Hillary will establish a $1 billion fund to support state, county, and municipal housing trust funds. Housing trust funds generally use dedicated funding sources to support initiatives like building subsidized rental housing and safety net housing, and they also support nonprofit housing developers. Hillary's fund will supplement the funding states, counties, and municipalities have already dedicated to these initiatives.
(italics, mine)
Note: Housing trust funds are an established plan, usually in the form of Community Service Block Grants, CDBG'. They offer assistance to non-profit housing corporations to build rental units for low-income tenants, and this is stated in the paragraph above.
How the "$1 billion fund to provide federal support to housing trust funds...'will be used to address "mortgage payments," is unclear. It is also not clear if Clinton plans to use this trust for persons to own homes. It is also not clear if this is the expansion of CDBG or a new federal trust fund.
Her senate website has a summary of affordable housing issues, but is undated.
http://clinton.senate.gov/...
Obama:
Now here, Obama has created a new program, but I am not sure if it is for home purchasing or rental:
Create an Affordable Housing Trust Fund: In too many communities, low-income families are priced out of the housing market. Between 1993 and 2003, the number of units of affordable to low-income households fell by 1.2 million. Barack Obama believes we should create an Affordable Housing Trust Fund to develop affordable housing in mixed-income neighborhoods. The Affordable Housing Trust Fund would use a small percentage of the profits of two government-sponsored housing agencies, Fannie Mae and Freddie Mac, to create up to 14,000 new units of affordable housing every year
.
He would restore funding for CDBG's
Fully Fund the Community Development Block Grant: The Community Development Block Grant (CDBG) program is an important program that helps strengthen cities and towns throughout the nation by providing housing and creating jobs primarily for low- and moderate-income people. The Bush Administration has consistently attempted to cut funding for CDBG, including by $1.2 billion next year and $6.9 billion over the next five years. Barack Obama has fought against these cuts, and as president, he will restore funding for the CDBG program.
http://www.barackobama.com/...
and on his senate site he addresses housing for Veterans:
http://obama.senate.gov/...
Edwards:
His plan is also a new plan, a voucher plan for housing:
Overhaul Housing Policy:
Create a Million New Housing Vouchers: Our current housing policies concentrate low-income families together, isolating willing workers from entry-level jobs and children from good schools. Edwards will create a million vouchers over five years to help low-income families move to better neighborhoods. At the same time, he will phase out housing projects that tie families to certain locations and are often lower quality and more expensive than private sector alternatives.
http://johnedwards.com/...
Since he does not have a senate site, and his campaign site is sparse, it is not clear what his views are besides the voucher plan. I am not sure he would increase the CDBG, for instance. Need more information too on the specifics of the voucher plan, if and how it would differ from the current Section * voucher program.
In summary, all of the candidates are addressing the issue and that is important, given the scarcity of interest in the last 6 years. Clinton seems to cover all basis, but the wording of the proposed plan seems confused, mixing the mortgage crisis withfederal trust funding. Obama seems to also cover a lot of ground, but doesn't address what type of housing his new plan is for, rental, ownership or both. Edwards, while addressing the overall issue of poverty, seems to have one specific proposal on the subject of housing, but no mention of existing plans already in place.
It should be noted that the candidates addressed urban and rural renewal and the issues surrounding housing Katrina victims and the mortgage crisis, but that was not my focus.
Surely, this issue is not on the front burner, but it is important to know where candidates stand.
Further links on Affordable Housing:
HUD
George W Bush and faith-based initives housing program:
http://www.hud.gov/...
It should be noted that many faith-based organizations built many affordable housing units using federal funds during previous administrations. This is just PR fluff, IMO.
and GWB priorities:
http://www.hud.gov/...
"Good Neighbors" housing for teacher, firefighters, etc...
http://www.hud.gov/...