National Housing Trust Fund Bill Sets 1.5 Million Unit Goal
The national trust fund bill (H.R. 2895) passed by the House of Representatives sets a goal to create 1.5 million affordable housing units over the next 10 years.
“The growing shortage of affordable housing is one of the most serious social and economic problems facing our country,” says Rep. Barney Frank (D-Mass.). According to him, the trust fund's main purpose is to build, rehabilitate, and preserve affordable rental housing nationwide. But funds will also be available to promote homeownership.