The Hill | Nearly every U.S. Presidential Administration in recent history has viewed housing as a fundamental plank of its core domestic agenda for one clear reason: Access to safe, affordable housing, whether owned or rented, is critical to the economic success of every American.
Over our history, homeownership has proven to be a key component of wealth building, and for those who can’t or don’t want to own, having a sufficient supply of rental housing can provide shelter, community and a piece of mind allowing greater chance at upward mobility.
In fact it was President Reagan who said, “Homeownership is an essential part of the American dream [and] fundamental to our way of life.”
But for the past 8 years we have lived with an Administration whose housing policy was informed by the worst recession since the great depression and one that was brought on by a bubble in the domestic housing market. Appropriately, policymakers’ focus was on protecting families in distress, creating rules to prevent a similar collapse, using enforcement as an instrument to hold accountable those who were perceived to have been at fault, and sending a strong signal to all involved that consumer care must be priority.