(TriceEdneyWire.com) — Wherever you live, or household size, home is a special place where children are raised, and memories are made. Owning a home is also the largest, single investment that most families make in a lifetime.
Since the nationwide housing crash, family outcomes have varied. While some households have witnessed full recovery, others—often people of color—wonder when or how they too can turn the proverbial financial corner.
Now, nine national civil rights organizations are demanding to know why related deliberations of a key policy issue now underway with both the U.S. Senate Banking Committee and its counterpart, the House Financial Services Committee are being conducted in private: the future of affordable homeownership.
“Our constituents represent the majority of future homebuyers, and any system that is not structured so as to ensure that they have fair access to safe and sustainable mortgages will not serve the country well,” wrote the coalition to leadership of both committees on December 15.
Signing the letter were: The Leadership Conference on Civil and Human Rights, the National Coalition for Asian Pacific Community Development, the Center for Responsible Lending, National Fair Housing Alliance, NAACP, UNIDOSUS (formerly known as the National Conference of La Raza, National Urban League, National Community Reinvestment Coalition and the Lawyers’ Committee for Civil Rights Under Law. “At a time when the national homeownership rate is declining, and local rents are skyrocketing, every effort should be made to increase sustainable homeownership opportunity and make rental housing more affordable,” the coalition continued. “Alternative facts and false math should not be used to undo the access and affordability provisions that have helped secure opportunity for hardworking families for more than 25 years.”