Housing

(As Prepared for Delivery)

April 2, 2008 -- Mr. President, the nation is facing a continuing financial crisis. A massive housing bubble is collapsing. We’ve seen the near failure of one of our nation’s largest investment banks, and the Federal Reserve has already put $260 billion on the line to ensure the stability of the financial markets. But as bad as things are on Wall Street, the picture is even worse on Main Street.

Working families have suffered for years under an economy in which stagnating wages have not kept up with the skyrocketing price of essentials like food, gas, and health care. Now, the financial crisis is battering their safety net, leaving families at the center of a perfect storm of economic failures.    » read more »

April 2, 2008 -- New York Governor Paterson today announced $1.45 million in grants to help build and renovate 122 units of affordable housing in New York State. The grants—to Kings, Onondaga and Yates counties—reinforce the Governor’s commitment to the creation and preservation of affordable housing throughout the state.

Today’s grants were approved by the New York State Affordable Housing Corporation (AHC), which makes grants to not-for-profit housing organizations around the state to help subsidize the cost of newly constructed homes and the renovation of existing housing.    » read more »

April 2, 2008 -- HONOLULU – Hawaii Governor Lingle has released $1,150,000 to complete the first phase of construction of low-income senior housing at the Hale Mahaolu Ehiku complex in Kīhei. The project is being developed by Hale Mahaolu.

To date, 34 one-bedroom affordable rental units have been completed. This grant-in-aid will allow for the construction of 21 additional units, as well as a manager’s unit, a Harry and Jeanette Weinberg South Maui Senior Center, an adult day care center and an office building to house Hale Mahaolu administrative staff and operations. Subsequent phases will bring the total number of units to 114 and also add a residential care home, dental office, community police substation and office space for support services.    » read more »

March 31, 2008 -- Chicago, IL - Senator Barack Obama released the following statement this morning on the resignation of HUD Secretary Alphonso Jackson:

"Secretary Jackson's resignation amid a housing crisis and charges of cronyism serves as a stark reminder of what's at stake in this election. It's harder than ever for working families to achieve the American Dream, and that's why we need a president who will cut ties with the special interests so that we can implement a plan that provides real relief to homeowners and prevents the lobbyists from writing the laws that regulate them.    » read more »

3/31/2008 -- "Secretary Jackson's resignation ends a tenure at HUD marked by an indifference to Congressional oversight powers, cronyism, and corrupt contracting practices that have no place in our government. Yet while Secretary Jackson’s resignation is appropriate, it does nothing to address the Bush Administration's wait-and-don't-see posture to our nation's housing crisis, which is threatening to drive our economy into a painful recession.    » read more »

March 31, 2008 -- House Oversight Committee Chairman Henry A. Waxman released the following statement in response to EPA’s issuance of a final rule on lead renovation, repair, and painting:

“The new lead rule cuts too many corners. It won’t provide the comprehensive protection for children that the law requires.    » read more »

Secretary of the Department of Housing and Urban Development Announces He Will Resign April 18th, 2008

Washington, D.C. -- March 31, 2008 - Today, U.S. Senator Arlen Specter (R-Pa.) issued the following statement concerning the resignation of Secretary Alphonso Jackson from the Department of Housing and Urban Development.

“I did not call for Secretary Jackson’s resignation, but since he decided to do so I think it maybe helpful in getting the $40 million released to provide more housing for the poor people of Philadelphia”

“The need for new leadership in the Department is especially urgent for the sake of the people that rely on public housing.    » read more »

3/25/2008 -- The following are excerpts from a press availability that Hillary Clinton held at the University of Pittsburgh at Greensburg earlier this afternoon:

“…Social Security is a big issue in this campaign. There are differences between myself and Senator Obama and there are very big differences between myself and John McCain. And I have to admit to being somewhat surprised when I saw that Senator McCain had said that he would try to continue to try to privatize Social Security along the lines of what President Bush tried and failed in doing in 2005. That is a very significant difference between the two of us.”
…    » read more »

Wall Street bailout, interest rate cut only pieces of the puzzle

March 18, 2008 -- Newark, NJ – U. S. Senator Robert Menendez (D-NJ), a member of the Senate Banking Committee, issued the following statement in the wake of the Federal Reserve interest rate cut and the recent purchase of Bear Stearns Co.:    » read more »

HUD provides New Orleans $2.3 million more than 2007 to support housing and development programs

NEW ORLEANS, March 17, 2008 - U.S. Housing and Urban Development Secretary Alphonso Jackson today announced the City of New Orleans will receive more than $27 million to support community development and produce more affordable housing in the Big Easy. HUD's annual funding will also provide downpayment assistance to first-time homebuyers; assist individuals and families who might otherwise be living on the streets; and offer real housing solutions for individuals with HIV/AIDS.    » read more »

March 14, 2008 -- WASHINGTON, DC – United States Senator Dick Durbin (D-IL) released the following statement in response to the President’s speech today on the housing crisis facing American homeowners.

“There is absolutely no evidence to suggest that altering mortgages on one percent of mortgage holders will affect interest rates for all homeowners.”

“In fact, a report released by the Georgetown Law Center said that allowing these changes will have ‘zero’ effect on interest rates. The President’s statements today are simply inaccurate.”    » read more »

Letter sent to Secretary of Housing and Urban Development

March 14, 2008 - U.S. Senators Bob Casey (D-PA) and Arlen Specter (R-PA) today sent a letter to Alphonso Jackson, Secretary of Housing and Urban Development (HUD) urging him to extend Philadelphia’s Moving-To-Work (MTW) agreement for one year. Moving-To-Work has allowed innovative approaches to provide housing to low-income families. The current program is set to expire on March 31, 2008.    » read more »

March 13, 2008 -- Chicago, IL -- Senator Obama released the following statement on joining with Senator Chris Dodd to introduce legislation for a new FHA Housing Security Program.    » read more »

3/13/2008 -- America’s housing crisis is threatening to drive our economy into a deep recession. Mortgage foreclosures are at an all-time high, housing prices are falling at record rates, and for the first time on record, homeowners own less than half the value of their homes. This crisis threatens not only to force millions of Americans out of their homes but put hundreds of thousands of Americans out of work and devastate communities across the nation.    » read more »

Requests meeting after HUD refuses to answer questions

March 12, 2008 -- WASHINGTON, DC-Following up on his questioning of HUD Secretary Alfonso Jackson at today’s Senate Banking Committee hearing, U.S. Senator Bob Casey (D-PA) sent a letter to Secretary Jackson requesting a meeting and answers to the questions that Secretary Jackson dodged at today’s hearing. Secretary Jackson refused to answer Senator Casey’s questions concerning emails sent by high-ranking HUD officials that suggest retaliation against the Philadelphia Housing Authority (PHA).    » read more »