Across the United States, from bustling urban centers to quiet rural communities and Tribal lands, families are facing unprecedented challenges due to soaring housing costs. As inflation reaches historic highs, housing has become the most significant driver of escalating expenses for American households. Arbitrary budget cuts and the dismissal of experienced, non-partisan professionals would destabilize the housing system, further inflating costs for both renters and homeowners.
Programs supported by the U.S. Department of Housing and Urban Development (HUD) are vital as they are locally tailored, encourage private sector investment and partnerships, and create well-compensated jobs in construction and related trades that cannot be outsourced. HUD initiatives facilitate homeownership for first-time buyers, provide housing solutions for veterans, and deliver essential services to senior citizens and individuals with disabilities. Furthermore, HUD programs stimulate investment in crucial community infrastructure such as libraries, community centers, roads, and public transit, while also aiding communities in recovering from natural disasters like wildfires, storms, and floods.
At Enterprise Community Partners, serving as both a housing provider and investor, we recognize that HUD’s role extends beyond supporting residents; it delivers critical financing to housing owners and operators. The current climate of rising costs is placing immense financial pressure on owners, developers, builders, and mission-driven housing providers. Bankruptcies are becoming a stark reality, diminishing our affordable housing inventory at a time when we can least afford to lose any homes. Disruptions to essential government funding will only exacerbate this crisis, potentially collapsing the national housing system.
While addressing waste and fraud is crucial, a collaborative approach is essential. Leaders from both Republican and Democratic parties in Congress, alongside private sector organizations like Enterprise Community Partners, are prepared to invest, streamline bureaucratic processes, and support a HUD that champions practical solutions while controlling costs. However, indiscriminate cuts will inflict considerable hardship on families and the broader economy.
