In his prepared remarks on the Dapartment of Housing and Urban Development's fiscal year 2012 budget, HUD Secretary Shaun Donovan yesterday told the House Financial Services Committee that any spending allocations must meet a number of challenges.
Assisting responsible families in the midst of housing crisis, providing quality affordable rental housing, transforming neighborhoods racked with poverty, rebuilding the nation's federally-assisted public housing stock and ensuring that its tenants are part of the skilled workforce the new global economy requires are just a few. Adding stress to the situation, these lofty goals must be met in a cost-conscious manner because of America's growing federal budget deficit and struggling economy.
Clearly education plays a major role in sustainable homeownership. Donovan said to remain in line with President Obama's State of the Union message, "Winning the Future", America must out-educate, out-innovate, and out-build the rest of the world and reform government to make it leaner, smarter, more transparent for the 21st Century.
We cannot out-educate, he said, if we lack quality affordable housing which prevents children from accessing good schools in safe neighborhoods or if homelessness threatens the continuity of schooling. For that reason the budget includes support of the Choice Neighborhoods Initiative to link HUD's housing investments to a compatible Department of Education program and proposes to target housing vouchers coupled with educational and other supportive services to at-risk families with school-aged children.
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Source: http://www.mortgagenewsdaily.com/03012011_hud_budget.asp
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