U.S. Department of Housing and Urban Development (HUD) Secretary Shaun Donovan was the keynote speaker at the New York Housing Conference (NYHC) and National Housing Conference 36th Annual Awards Luncheon in New York City yesterday. He spoke of the foreclosure crisis facing the nation, as well as the solutions aimed at ending the crisis. In addition, Secretary Donovan emphasized the importance of balancing homeownership and rental housing policies, saying:
"Homeownership is incredibly important. But if this crisis has taught us anything, it’s that it is long past time we had a balanced, comprehensive national housing policy – one that supports homeownership, but also provides affordable rental opportunities, and ensures nobody falls through the cracks.
And with $10 billion in the Recovery Act for rental assistance, an increase of over $3 billion more in our FY 2010 budget request, and with $1 billion to capitalize the National Affordable Housing Trust Fund, let there be no doubt:
The Federal government is back in the business of rental housing.
But preventing a crisis of this magnitude from happening again is not just about HUD providing more federal resources or providing them more quickly.
It’s also about HUD being a resource – it’s about being a better partner."
Read Secretary Donovan's complete remarks and learn more about the NYHC and NHC 36th Annual Awards Luncheon