Dennis Matthews’ life is unrecognizable since he enrolled in the IDA program. In 1999, Dennis was $10,000 in debt, had lost his job and had taken a new job with a 45% salary reduction. “I was in so much trouble,” he says. “The cost of living was so high.”
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An adequate supply of safe and affordable housing is vital for the health and success of America's families, children and communities. More than one-third of U.S. households rely upon rental housing, and yet, in the last 10 years, we have lost more than a million affordable homes.
CFED believes that preserving our nation's investment in affordable housing is crucial for the future health and success of our country. Affordable rental housing is often the first step to homeownership, small business creation, and other asset building strategies. Preserving affordable rental homes requires the cooperation of the private sector, non-profits, and government. Funded by the John D. and Catherine T. MacArthur Foundation, this work is led by Michael Torrens.
On November 7-8, 2007 CFED convened a successful national policy forum, Window of Opportunity: Preserving Affordable Rental Housing, in Washington, DC, thanks to grant support from the John D. and Catherine T. MacArthur Foundation.
Key housing leaders, policymakers and investors in attendance discussed resources, regulatory reforms, information and innovations that will preserve and improve one million affordable rental homes for seniors, families and individuals with modest means over the decade ahead. Highpoints of the event included:
- A keynote address by Jonathan Fanton, MacArthur’s President, with details of the Foundation’s $150-million commitment to the Window of Opportunity housing preservation initiative.
- Remarks by Congressman Barney Frank, Chair of the House Financial Services Committee, on the importance of affordable rental housing and Government’s important role.
More details on the Window of Opportunity initiative, and text and audio of these remarks are available at: www.windowofopportunity.macfound.org.
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