Obama Takes EIGHT Years for $10 Million Affordable Housing Help to California

When you hear Hillary or Jerry Brown speak, you hear that California has n affordable housing crisis—though they take no blame for the high taxes, crazy regulations or environment rules that caused the problem. Barack Obama talks about the affordable housing crisis—caused by the policies of his Administration—but when given a chance to make some minor fixes, he does nothing.

“Eight years after it was authorized by the Great Recession-inspired Housing and Economic Recovery Act of 2008, the Housing Trust Fund is only now being capitalized through contributions made by Fannie Mae and Freddie Mac. In December 2014, the Federal Housing Finance Agency directed the two Government Sponsored Enterprises to begin setting aside

and allocating money to the Housing Trust.

The money was authorized just before Obama took office. This shows how incompetent his Administration has been—but he has had no problem protecting and importing illegal aliens, making our housing crisis worst.

$10 Million for affordable housing in California

Central Valley Business Times,5/4/16

• It has taken eight years to write the check

• “Another tool to help states confront a growing affordable rental housing crisis”
Ten million dollars is unlikely to create enough new homes to resolve California’s shortage of affordable housing, but it might make a small dent.

That’s the amount of money the U.S. Department of Housing and Urban Development is allocating to California from its Housing Trust Fund.

The fund is described by HUD as “a new affordable housing production program that will complement existing Federal, state and local efforts to increase and preserve the supply of decent, safe, and sanitary affordable housing for extremely low- and very low-income households, including families experiencing homelessness.”

“Today, we offer another tool to help states confront a growing affordable rental housing crisis in this country,” says HUD Secretary Julián Castro. “The Housing Trust Fund will be an enduring resource designed to producing more housing that is affordable to our most vulnerable neighbors.”

Eight years after it was authorized by the Great Recession-inspired Housing and Economic Recovery Act of 2008, the Housing Trust Fund is only now being capitalized through contributions made by Fannie Mae and Freddie Mac. In December 2014, the Federal Housing Finance Agency directed the two Government Sponsored Enterprises to begin setting aside and allocating money to the Housing Trust.