That is in part a reflection of how those communities were targeted by subprime lending activity in the lead up to the last recession, which left them more likely to be foreclosed against.-Jacob Passy; 415-439-6400; AskNewswires@dowjones.comCritics of the Trump administration argue that the new rule would make it harder to enforce fair housing and could lead to an increase in segregation. The Fair Housing Act brought an end to practices such as redlining and racial covenants in home deeds.
"He’s built his political career on trying to stoke division among us as Americans and this is more about stoking division and racial resentment than about the policy itself." I have rescinded the Obama-Biden AFFH Rule. Without strong laws like AFFH in place, Westchester County will fail to be the diverse, multifaceted County we all want to call home.”Alexander Roberts, executive director of Community Housing Innovations and a member of the Westchester Workforce Housing Coalition, said in Westchester property values and quality of life have not been destroyed due to the affordable housing settlement.“I am happy to inform all the people living their Suburban Lifestyle Dream that you will no longer be bothered or financially hurt by having low income housing built in your neighborhood,” Trump said in a pair of tweets on Wednesday.
He added, "Not fair to homeowners, I may END!""Ben Carson has been working to dismantle fair housing since the day he stepped into the HUD building, so this tweet is not surprising," said Diane Yentel, president and CEO of the National Low Income Housing Coalition."Your housing prices will go up based on the market, and crime will go down," Trump said in his tweets.Instead, Carson emphasized the benefits of the Opportunity Zone program created by Republicans' 2017 tax legislation."The bottom line for NIMBYs who fear that property values will take a hit when a low-income housing project locates nearby is that their anxiety is largely unfounded -- at least in cities where housing is either expensive or in short supply," the report concluded.On Wednesday, President Trump took to Twitter (TWTR) to say he had rescinded the Affirmatively Furthering Fair Housing (AFFH) rule, established by the Department of Housing and Urban Development under the Obama administration in 2015.Trump claimed that people in the suburbs would "no longer be bothered or financially hurt by having low-income housing built in your neighborhood.""Because of persistent residential segregation and structural inequality, your ZIP code is a better determinant of your health than your genetic code," said Lisa Rice, president and CEO of the National Fair Housing Alliance.
The AFFH rule was meant to fulfill requirements of the Fair Housing Act, which was signed into law by President Lyndon B. Johnson in 1968.
CFPB Director Kraninger defended the Bureau's record of enforcement actions under her tenure, saying, "the number of investigations ongoing has increased.”And the decision has not been met favorably.“We’re very active … but we want to do things that make sense, not things that impose bureaucratic control over the people of the United States,” he said.Industry leaders and agencies are reacting to the Department of Housing and Urban Development’s (HUD) announcement that it intends to terminate the Affirmatively Furthering Fair Housing Regulation (AFFH).The rule defines “affirmatively furthering fair housing” as any action rationally related to promoting any of the above attributes of fair housing.“We still have too many people that, left to their own narrow and ignorant views, will not always do the right thing,” he said.William Case, President and CEO, American Mortgage Service Co., said while it is likely that the rules under the Obama-era Administration’s regulation were overdone and “a bit cumbersome,” the rules remove too many protections that still necessary.“That is anti-federalism and that’s not how our system was built,” he said.“Now, a grantee’s certification that it has affirmatively furthered fair housing would be deemed sufficient if it proposes to take any action above what is required by statute related to promoting any of the attributes of fair housing,” HUD states.
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