Money is Policy JRT Housing-Money 4-26lores | Page 4

Money is Policy:
How Federal Housing Dollars Are Spent
The Case for New Priorities
Introduction
For millions of families across America,
housing has become a growing source
of instability and stress. Unfortunately,
the demographic changes now trans-
forming America that will have a pro-
found impact on our nation’s housing
needs well into the next decade.
federal housing policy – the set of This paper attempts to provide some
laws, programs, and spending priori- high-level context for fashioning a new
ties developed by the federal govern- federal policy that can overcome these
ment in response to perceived housing challenges and be a more effective
needs – has failed to keep pace with instrument in helping the American
the dramatic developments that have people realize their housing aspirations.
occurred in the rental and homeowner- The major challenges in housing today
ship markets in the wake of the Great can be summarized in two words:
Recession. Federal housing policy is also Affordability and Access.
unprepared to respond adequately to
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Money is Policy: How Federal Housing Dollars Are Spent