{"id":2325,"date":"2016-03-10T08:43:39","date_gmt":"2016-03-10T12:43:39","guid":{"rendered":"http:\/\/dankrell.com\/blog\/?p=2325"},"modified":"2022-12-13T10:21:41","modified_gmt":"2022-12-13T15:21:41","slug":"housing-and-presidential-election","status":"publish","type":"post","link":"https:\/\/dankrell.com\/blog\/2016\/03\/10\/housing-and-presidential-election\/","title":{"rendered":"Housing and presidential election"},"content":{"rendered":"\n
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from trulia.com<\/figcaption><\/figure><\/div>\n\n\n\n

Another presidential election, and there will most likely be very little discussion and debate about housing policy. During the 2012 presidential election<\/a>, housing seemed to take a back seat as the real estate market was still emerging from a foreclosure crisis and recession just four years earlier. Fast forward to today and homeownership is hovering near a 30-year low.  Homeownership is out of reach to many due to tightened mortgage qualifying and increasing home prices; while Americans\u2019 incomes are being squeezed by rising rents.<\/p>\n\n\n\n

Enter Ron Terwilliger. A successful real estate developer and philanthropist, Terwilliger launched the J. Ronald Terwilliger Foundation<\/a> for Housing America\u2019s Families in 2014. The organization\u2019s mission is to \u201c\u2026recalibrate federal housing policy to more effectively address our nation\u2019s critical affordable housing challenges and to meet the housing needs of future generations<\/em>.\u201d<\/p>\n\n\n\n

Giving the keynote address at The Affordable Housing Developers Summit in Chicago, Terwilliger described an evolving \u201csilent housing crisis.\u201d He proclaimed that \u201cA legacy of the great recession, the rental affordability crisis is often overlooked by policymakers, ignored by the media, and underestimated, at best, by the general public<\/em>.\u201d And although affordable housing is a bi-partisan issue, he stated that candidates don\u2019t talk about the issue (housingfinance.com).<\/p>\n\n\n\n

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So it should come as no surprise that the J. Ronald Terwilliger Foundation for Housing America\u2019s Families and the Bipartisan Policy Center hosted a housing summit this past October. Speaking at the summit were a number of presidential candidates, policy makers, current and former Senators, a former HUD Secretary, local officials, and industry leaders and experts. Unfortunately, the presidential candidates that are still in the race, did not participate. The summit was held in New Hampshire, where housing costs for 36% of residents is more than 30% of their gross income; and median rents have increased 50% since 2000 (housingwire.com).<\/p>\n\n\n\n

The housing summit seemed to inspire realtor.com chief economist Jonathan Smoke, who shortly afterward penned a statement declaring his candidacy for president as leader of the \u201cHousing Party\u201d (As President, I\u2019ll Make American Housing Great Again\u2014Really<\/em>; realtor.com; October 21, 2015). Smoke believes that housing should be first on the national agenda stating, \u201cThe market won\u2019t solve all of our housing problems on its own. And our government seems incapable of working together to find solutions that can help<\/em>\u2026\u201d Laying out a detailed platform, Smoke proclaims that a vote for him would \u201c\u2026build our way to a stronger economy and more affordable housing for the middle class\u2014a better America for all of us<\/em>.\u201d He said that he would work toward getting a home for every family.<\/p>\n\n\n\n

But it may be that housing policy is a bit more complicated than just proclaiming \u201chomes for everyone.\u201d In a frank analysis of housing policy, Daniel Hertz laid out what seems to be diametrically opposed positions: policy should keep housing affordable so as not to price people out of the market; and policy should protect house values, because homes are an investment and wealth building vehicle (American Housing Policy\u2019s Two Basic Ideas Pull Cities in Opposite Directions<\/em>; theatlantic.com; October 14, 2015).<\/p>\n\n\n\n

Hertz believes that these seemingly opposite policy positions can be \u201creconciled\u201d by offering a wide variety of housing types for a broad range of incomes. Additionally, he discussed how local privately developed affordable housing programs (such as Montgomery County\u2019s Workforce Housing and MPDU programs<\/a>) is one avenue to a comprehensive housing policy.<\/p>\n\n\n\n

By Dan Krell
Copyright \u00a9 2016<\/p>\n\n\n\n

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Disclaimer<\/a>. This article is not intended to provide nor should it be relied upon for legal and financial advice. Readers should not rely solely on the information contained herein, as it does not purport to be comprehensive or render specific advice. Readers should consult with an attorney regarding local real estate laws and customs as they vary by state and jurisdiction. Using this article without permission is a violation of copyright laws.<\/p>\n","protected":false},"excerpt":{"rendered":"

Another presidential election, and there will most likely be very little discussion and debate about housing policy. During the 2012 presidential election, housing seemed to take a back seat as the real estate market was still emerging from a foreclosure crisis and recession just four years earlier. Fast forward to today and homeownership is hovering … <\/p>\n

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