Every family deserves the opportunity to realize the American dream of owning a home.
We welcome the Administration's commitment to join with Congress and the housing industry to reduce barriers to affordable housing in our cities. Last year, with overwhelming bipartisan support, the House of Representatives passed the 'American Homeownership Act', which would have helped accomplish the goals of the initiative announced today. We are eager to work together to move our proposal forward again this year with the support of the Administration. The proposal would require all Federal agencies to include a housing impact analysis with any proposed regulation to certify that such regulation have no significant negative impact on the availability of affordable housing. Local nonprofit and community development groups would be given the opportunity to offer alternatives if it is found that such rules would have a deleterious effect on affordable housing.