[Congressional Record (Bound Edition), Volume 148 (2002), Part 3]
[Extensions of Remarks]
[Page 3554]
[From the U.S. Government Publishing Office, www.gpo.gov]




   INTRODUCTION OF THE HOUSING AFFORDABILITY FOR AMERICA ACT OF 2002

                                 ______
                                 

                           HON. MARGE ROUKEMA

                             of new jersey

                    in the house of representatives

                        Tuesday, March 19, 2002

  Mrs. ROUKEMA. Mr. Speaker, today I am introducing the Housing 
Affordability for America Act of 2002 which will increase the 
availability of affordable housing and expand homeownership and rental 
opportunities across the country.
  This country is facing a growing affordable housing problem for low 
and moderate-income families and for those with special needs. Last 
year, the Housing Subcommittee held a series of hearings to explore 
housing affordability and availability. In those hearings, we heard 
from community activist, housing experts, local and federal government 
officials and representatives from the home building, real estate and 
mortgage industries on the obstacles to home ownership and affordable 
rental housing across the country.
  If we are to expand home ownership and affordable rental 
opportunities, then we must encourage new production of affordable 
single and multifamily housing. We must break down the barriers that 
prevent certain segments of the population from realizing the American 
dream of homeownership. One way to do that is to provide opportunities 
that allow families to acquire and build wealth toward the goal of 
homeownership. That means there must be affordable, available rental 
housing as a family's first step. This bill includes provisions 
targeted at not only expanding home ownership opportunities but also 
providing affordable rental opportunities.
  The Housing Affordability for America Act makes mid-course 
corrections of housing programs that are underused, duplicative or have 
been hindered by muddled objectives. This legislation provides 
increased flexibility for local governments and programs so that they 
can better meet the needs of their individual communities.
  First, the bill includes a housing production and preservation 
program within HOME targeted toward very low and extremely low income 
families. In addition, we provide flexibility and increased leverage 
opportunities for local governments and local decision-makers so they 
can better meet the needs of their individual communities.
  The FHA program was originally designed to encourage lenders to make 
credit more readily available and at lower rates for various purposes 
that might otherwise go unmet. In this bill, we strengthen the FRA 
program and provide additional tools to encourage homeownership 
opportunities and to increase the supply of affordable rental housing 
for all Americans.
  Needless regulation adds to the cost of housing. By reducing the cost 
of regulation, we can lower the cost of homeownership. That is why this 
bill would require a housing impact analysis of any new rule of a 
Federal agency that has an economic impact of $100,000,000 or more. 
H.R. 3191, the ``Home Ownership Opportunities for Public Safety 
Officers and Teachers'' has also been incorporated into this 
legislation.
  Finally, we reauthorize HOPE VI, HOPWA, the Homeless Housing 
Programs, and the Native American Housing Act.
  Housing is the number-one consumer product in America. While the 
homeownership rate in this country is an impressive 68%, there are 
still some that are unable to share in that dream. We have an 
opportunity with this bill to make an impact on affordable housing by 
addressing the issue of growing housing need. This legislation is the 
first step--a precursor to the forthcoming reports from the Millennium 
and Senior Housing Commissions which will help to outline further steps 
that will be necessary in the future.
  It is time that we restored confidence and accountability to our 
nation's housing programs and policies. This legislation will go a long 
way toward reaching that goal.