US Government must do better providing affordable new homes for sale

October 17, 2008 by OPPE News

America needs to do more to meet a continuing shortage of affordable homes for sale, according to the National Association of Housing and Redevelopment Officials (NAHRO).

A lack of government support is one of the reasons behind the housing gap, according to the group.

It warned the planned administrative budget for 2009 would continue a pattern of “large scale disinvestment” in America’s inventory of affordable housing.

It also said the new budget

“would undermine efforts to sustain vibrant communities by cutting or eliminating programs to revitalise our nations’ community infrastructure.”

Plummeting housing prices, increases in foreclosed homes and the ongoing uncertainty of America’s financial institutions has meant it is unclear how the next president will deal with housing shortages.

Some suggestions have included ordering the US Treasury to buy up all of the country’s bad mortgages in an effort to stabilise the general market.

A recent NAHRO poll showed nine out of ten Americans believe the provision of affordable housing is an important issue in their community.

Almost two-fifths said having a decent affordable place to live was their top priority.