Committee will come to order. Let me think our witness for your patience. We are now ready to proceed under the five minute rule and i will give myself five minutes to begin the question phase of the hearing. Over the last year, has taken a number of actions to reduce the ability of fha borrowers to utilize down payment assistance programs from governments and cities. To purchase a home and has indicated that it intends to issue a proposed rule affecting down payment assistance in january. Secretary carson testified before this committee in june that he was not familiar with the hud data that identifies which Government Entity is providing down payment assistance and it appears that hud cannot determine which Government Programs are providing down payment assistance for any fha loan. Which is critical before attempting to issue new regulations of government down payment assistance programs. Will you commit to not moving forward any rulemaking or other Administrative Changes related to
Members will have five legislative days within which to submit materials for inclusion in the record. This is entitled the future of housing in america, oversight of the department of housing and urban development. I now recognize myself for three and half minutes to give an Opening Statement. Today we welcome the 17th secretary of the department of housing and urban development, doctor ben carson for his first appearance before our committee. Welcome. At least in one respect, he may be among the most qualified individuals to ever serve as hud secretary. Why . Because secretary carson was raised by a single mother who had a third grade education. He grew up in poor communities in detroit and boston that he lived in multi Family Housing with boarded up windows and doors, surrounded by sirens, gangs, and murders. Not only does he understand poverty personally in thi viscerally, he understands what it takes to escape it and he i passionate about helping others escape as well. He also unde
Later in 1965 to combat poverty rebuilding our cities and making housing more affordable by all. Yet by every official measure, poverty and its consequences is as bad as 50 years ago. Poverty rate today is essentially unchanged from when hud was founded. Millions of more americans fall below the poverty mark, including an unbelievable one out of five children. This is shameful. Hud says its mission is to build quality Affordable Homes for all and yet, according to inflation figures, the median price of new homes as doubled and median rents have gone up by more than onethird. In other words, its not just the poor who find the cost of housing beyond their means, its almost everyone. This is unacceptable. To make matters worse, to achieve this unenviable record, hud has spent 1. u dollars and is asking for a 9 budget increase. 1. 6 trillion is more than 13,000 for every household in america, equivalent to the cost of feeding a family of four for an entire year. Meanwhile, one of our great
Later in 1965 to combat poverty rebuilding our cities and making housing more affordable by all. Yet by every official measure, poverty and its consequences is as bad as 50 years ago. Poverty rate today is essentially unchanged from when hud was founded. Millions of more americans fall below the poverty mark, including an unbelievable one out of five children. This is shameful. Hud says its mission is to build quality Affordable Homes for all and yet, according to inflation figures, the median price of new homes as doubled and median rents have gone up by more than onethird. In other words, its not just the poor who find the cost of housing beyond their means, its almost everyone. This is unacceptable. To make matters worse, to achieve this unenviable record, hud has spent 1. u dollars and is asking for a 9 budget increase. 1. 6 trillion is more than 13,000 for every household in america, equivalent to the cost of feeding a family of four for an entire year. Meanwhile, one of our great
Later in 1965 to combat poverty rebuilding our cities and making housing more affordable by all. Yet by every official measure, poverty and its consequences is as bad as 50 years ago. Poverty rate today is essentially unchanged from when hud was founded. Millions of more americans fall below the poverty mark, including an unbelievable one out of five children. This is shameful. Hud says its mission is to build quality Affordable Homes for all and yet, according to inflation figures, the median price of new homes as doubled and median rents have gone up by more than onethird. In other words, its not just the poor who find the cost of housing beyond their means, its almost everyone. This is unacceptable. To make matters worse, to achieve this unenviable record, hud has spent 1. u dollars and is asking for a 9 budget increase. 1. 6 trillion is more than 13,000 for every household in america, equivalent to the cost of feeding a family of four for an entire year. Meanwhile, one of our great