The Community Reinvestment Act (CRA) was passed in 1977 to end housing discrimination, known as redlining. But discrimination is still a problem in lending.
The shortage of new homes and affordable construction starter homes is not only a problem for would-be homeowners but mortgage lenders face a looming strain.
What is affordable housing? Housing is affordable when it serves those living at or below AMI. Not more than 30% of one’s income should be spent on housing.