Congressman Barney Frank warns that the National Housing Trust Fund is in trouble because of concern for the deficit. In related news, the Minnesota Housing Partnership released data showing the economic struggles of Minnesotans are intensifying and both the rental and home ownership market are becoming less friendly as a result.
Regarding the National Housing Trust Fund, Congress’ daily newspaper ‘The Hill’ reports: “Deficit worries slow funding of Obama homeless programs.”
“If it wasn’t for the deficit concern it would have been over already,” Frank said of the legislation funding the trust fund. “It’s important to have a decent low-income housing program to … act as an alternative for putting low-income people into homeownership, which they can’t afford. But obviously, the concern about the deficit is a major obstacle.”
And, as for Minnesota’s housing market, today’s Star-Tribune reports: “Housing costs bleeding many Minnesotans.”
MHP examinedwages for five occupations, including teacher, registered nurse and retail salesperson, and found that for full-time workers, owning a median-priced home is affordable to all these occupations in only nine Minnesota counties, most of them in rural areas in the western part of the state. In none of the counties is renting a typical two-bedroom apartment affordable to all five occupations.
Hmmm. Is there a connection between these two stories?
