WASHINGTON, DC (February 14, 2024) – In response to reports of drastic cuts to funding and personnel at the Department of Housing and Urban Development, Enterprise Community Partners President and CEO Shaun Donovan, former HUD secretary and White House budget director, said the following: 

“Record high housing costs are putting the squeeze on families in every part of this country – from big cities to the suburbs to rural and Tribal lands and everywhere in between. At a time of record high inflation, housing is the largest component of cost growth in America. Arbitrarily severing funding streams and firing professional, impartial staff will only serve to destabilize our housing system and drive up costs for both renters and owners. 

“HUD programs are locally driven, leverage private investments and partnerships, and support well-paying local jobs in construction and the trades that are impossible to ship overseas. HUD guarantees loans for first-time homebuyers, offers financing for veterans looking to find a place to live, and provides vital services to seniors and people with disabilities. HUD programs spur investments in libraries, community centers, even critical infrastructure like sewage, roads, and transit, while also helping communities recover in the wake of wildfires, storms, and floods. 

“As a housing provider and investor, we understand that HUD doesn’t just support residents; it also provides crucial financing to housing owners and operators. Today, escalating costs are putting owners, developers, builders, and mission-driven housing providers under intense financial strain, with some going bankrupt, effectively cutting our affordable housing supply at a time we can ill-afford to lose a single home. Disruptions to vital government financing will only further the crisis that threatens to pull the rug out from under our national housing system. 

“There is a right way to address waste and fraud. Republicans and Democrats alike in Congress and leaders in the private sector, including at organizations like ours, are ready to invest, cut through red tape, and support a HUD that promotes commonsense solutions while tamping down costs. But chaotic cuts can and will have painful consequences for families and the economy.” 

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