U.S. Must Increase New Housing Production

Though we have made the American Dream of homeownership a reality for many, there is still much to be done," Cuomo told attendees of the HUD-sponsored conference, Federal Housing Policy in the New Millennium. "Today, a record 67 percent of Americans own their homes, but the robust economy is also driving rent payments to new highs. We need to take advantage of the strong economy and put substantial new money into a housing production program."In addition to focusing on theaffordable housing crisis, the two-day conference examined emerging housing challenges such aspredatory lending and the future of public housing. The participants also studied the future direction of housing policy and offered broad policy perspectives on the tools communities will need to boost homeownership opportunities, raise production levels of affordable housing, and address the problem of "sprawl."

Thanks to Abhijeet Chavan