Homeownership Zone as an Affordable Assumption

At a point in time were the struggles of this nation have called for the working class as well as middle classed Americans to explore the potentials of affordable living practices. The uncertainty of housing as a concern has become a major issue of now as the affects of the recent foreclosure crisis and unemployment increases made the average assumption of financial conditions to bringing even middle class Americans to considering the 30 percent mean illustrated as a condition of affordable conditions.

The generally accepted definition of affordability is for a household to pay no more than 30 percent of its annual income on housing.

An estimated 12 million renter and homeowner households now pay more then 50 percent of their annual incomes for housing, and a family with one full-time worker earning the minimum wage cannot afford the local fair-market rent for a two-bedroom apartment anywhere in the United States. The lack of affordable housing is a significant hardship for low-income households preventing them from meeting their other basic needs, such as nutrition and healthcare, or saving for their future and that of their families. As the current times consider, low-incomed has hit an all time high as applications for newly funded programs are drawing record numbers of families seeking these options as money has become tighter than ever.

As funding concerns are being handled as of now as the economic worries of this nation come to the front of families trying to maintain other programs and options are being considered. We can not continue to afford to maintain ourselves as the cost of living and living standards are continually changing as the economic conditions of this nation are being tested as of now. The continual placement of affordable programs are needed to allow the people of this nation to continue under the assumption of living life with-out the changes made towards financial conditions as of now. This nation has not made adequate progress toward the goal of national housing
policy, as set out in the Housing Act of 1949. The supply of affordable rental housing is diminishing as the demand is ever rising.

To achieve the goal of national housing policy, there is a need to strengthen nationwide a cost-effective community-based housing partnership designed to expand the supply of rental housing that is affordable to very low-income and
low-income families, improve homeownership opportunities for low-income families.

The Home Program helps to expand the supply of decent, affordable housing for low- and very low-income families by providing grants to States and local governments called participating jurisdictions or “PJs”. PJs use their HOME grants to fund housing programs that meet local needs and priorities. HOME is the largest Federal block grant to State and local governments designed exclusively to create affordable housing for low-income households. Each year it allocates approximately $2 billion among the States and hundreds of localities nationwide.

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