HUD Secretary, Marcia Fudge, on Housing Crisis

HUD Secretary Marcia Fudge On The Efforts To Avert Pandemic Housing Crisis

As the pandemic rages on, the housing market continues to surge.  You’ve heard it all by now–ridiculous prices, fierce competition, limited supply, institutional investors, historic low rates.  All make for a red hot market recipe that leads to a housing crisis for many.

And as long as inventory remains scarce and rates low, home prices show no sign of slowing down.  The benefits are enormous for homeowners with equity and investors, but everyday working people and communities of color are falling farther behind.  The dream of homeownership is being pushed increasingly out of reach.  More families are becoming cost burdened by rising rents, job loss, inflation, and healthcare.

The eviction moratorium and unemployment benefits are now expired.  Forbearance agreements are set to expire later this month.  Yet, billions of dollars in assistance has not been disbursed.  Many Americans are fearful of losing their homes.

NPR interviewed HUD Secretary, Marcia Fudge to learn more about averting the crisis and stemming the tide.  “We CAN do this.”

Click here to read the full interview.