Recently, the National Fair Housing Alliance (NFHA) commended the Biden-Harris administration’s release of data demonstrating the impact of equitable federal initiatives on preserving and expanding fair and affordable housing.

Executive Vice President Nikitra Bailey released a statement on the matter.

“Homeownership is the bedrock of the American dream and unfortunately remains out of reach for far too many mortgage-ready consumers of color. We are thankful the Biden-Harris administration recognizes the power of fair and affordable housing as an important pillar of inclusive economic growth,” Bailey wrote. “Among the successes we learned about on Monday is the American Rescue Plan’s Homeowner Assistance Fund and targeting to socially disadvantage individuals, helping nearly 400,000 homeowners at risk of foreclosures because of the devastating impact of the COVID19 pandemic on the health of families and the economy. The administration’s quick and decisive action helped thwart a decline and instead contributed to the growth of Black and Latino homeownership rates, which grew by 2 percent and 2.5 percent between 2019-2021, respectively. This growth was the first-time homeownership rates among communities of color grew since the Great Recession.

“We are also pleased the administration reiterated its critical support for first generation downpayment assistance, a proven strategy to grow homeownership in underserved communities of color and for rural resident,” Bailey added. “We also remind the administration, especially the Treasury Department, of the importance of ensuring that all federal funding for housing and community development programs must comply with the Fair Housing Act’s Affirmatively Furthering Fair Housing mandate. States and localities using state and local fiscal recovery funds for affordable housing are responsible for ensuring they take meaningful action to overcome patterns of segregation and foster inclusive communities.”

Bailey also noted in her statement that by continuing to place its weight behind the Neighborhood Homes Investment Act, which Congress should pass with sensible fair housing principles recommended by NFHA, the administration is rightly calling on Congress to finally act on legislation to help build or rehabilitate over 400,000 homes that can spur broadscale economic growth in communities throughout the nation. 

“When it does, many mortgage-ready consumers and consumers from urban and rural communities will be able to pursue their dreams of homeownership and help stop the tide of investor purchases that are driving up the cost of housing for renters and potential first-time homebuyers,” Bailey said.