[Congressional Record Volume 172, Number 10 (Wednesday, January 14, 2026)]
[House]
[Pages H724-H725]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                              {time}  1030
                          RISING HOUSING COSTS

  (Mrs. Sykes of Ohio was recognized to address the House for 5 
minutes.)
  Mrs. SYKES. Mr. Speaker, I often say that while my name may be on the 
ballot, we are all going to Congress together. Families in Ohio's 13th 
Congressional District and all across the country are telling us that 
housing costs are rising faster than wages, making it hard to keep a 
roof over their heads.
  Today, I rise to bring an issue that plagues my community and the 
entire country, which is the rising cost of housing.
  In my district alone, over one hundred thousand households rent their 
homes. The median renter household income is just above $40,000 a year, 
yet the median rent is more than $1,000 per month. That means housing 
costs are often the largest part of a monthly budget, and this is even 
before groceries, childcare, or healthcare.
  It is not just renters who are feeling the squeeze. Homeowners are 
feeling the squeeze, too. The median home value in Ohio's 13th District 
is about $228,000. That may sound modest compared to national prices, 
especially for those of you on the coasts, but property taxes, 
insurance, utilities, and repairs add up fast. With aging homes and 
data centers driving up the cost of utilities, people are feeling the 
crunch.
  For families with a mortgage, monthly housing costs average nearly 
$1,500, and even those who have paid off their mortgage face rising 
property taxes and repair costs that strain household budgets.
  For families trying to buy their first home, the challenge is 
steeper, because mortgage rates may have dipped below 6 percent, but 
high prices and limited inventory keep homeownership out of reach for 
many in my district. We cannot ignore the inequities baked into the 
system.
  In Ohio's 13th District, the homeownership rate overall is nearly 69 
percent, but for Black families, it drops to just 37 percent, dropping 
by nearly half. That gap reflects generations of barriers we still have 
a responsibility to address, like redlining and restrictive covenants.
  For some families, rising costs lead to housing instability or 
homelessness. That is why, last November, I pressed the Department of 
Housing and Urban Development to protect Federal funding and 
homelessness prevention programs in Summit and Stark Counties. These 
continuum of care dollars support nearly 2,700 beds in my district for 
families, veterans, and young people who need a safe place to sleep. 
Any cut could disrupt services that people depend on and, most 
importantly, keep them without a roof over their head.
  We also have to confront the root causes of this crisis. Large 
corporate investors are buying up single-family homes, driving up 
prices and rents, and locking families out of homeownership.
  That is why, last summer, I introduced the HOMES Act, which cracks 
down on investors buying 50 or more single-family homes, shines a light 
on corporate ownership and rental practices, and makes sure local 
families, not profit-seeking investors, get first

[[Page H725]]

access to homeownership. People simply cannot compete with these for-
profit corporations, and every family deserves a place to call home.
  Just last week, President Trump acknowledged the same problem and 
called on Congress to address it. On this issue, it seems we may 
finally all be reading from the same page.
  I encourage my colleagues to support the HOMES Act and see its swift 
passage, but we also need to build homes, too. Supply simply has not 
met the demand. That is why I secured Federal funding for the East 
Akron Neighborhood Development Corporation to help expand affordable 
housing, revitalize neighborhoods, and create jobs. Increasing supply 
is essential if we want housing prices to come down.
  As chair of the New Democrat Coalition's Affordable Housing Task 
Force, I helped develop a housing action plan with more than 20 
recommendations to increase housing supply, reform zoning and 
permitting, strengthen Federal incentives, grow the construction 
workforce, and improve transparency.
  Mr. Speaker, housing is the foundation of opportunity. Homeownership 
is the primary way in which families build wealth. When housing is 
affordable and stable, families can plan, save, and build a future. 
When it is not, life becomes harder. Rents are too high. Mortgages are 
still out of reach for far too many families. Property taxes and 
repairs are stretching household budgets. Homelessness programs that 
protect our most vulnerable neighbors must be preserved.
  Mr. Speaker, we have to get serious about housing and focus our 
attention on lowering the cost of housing and keeping housing 
accessible to everyone. The American Dream depends on it.
  Every family deserves a safe and affordable place to call home, and 
this House has a responsibility to help make that possible. Until 
housing costs come down, Congress has a lot more work to do. I look 
forward to working with this body on behalf of my constituents and 
across the country to work to reduce housing costs so everyone can live 
their American Dream wherever they choose to call home.

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