Congressional Hearing Highlights HOME Program Threat Amid Housing Affordability Crisis

On July 17, 2025, the U.S. House Committee on Financial Services convened to discuss the pressing issue of housing affordability, focusing on the HOME program, which aims to provide cities and states with the necessary tools to build and preserve affordable housing. The meeting highlighted the urgent need for reform and increased funding to address the growing housing crisis affecting millions of Americans.

During the session, committee members expressed deep concerns about the current state of housing in the United States. Representative Ayanna Pressley from Massachusetts emphasized the plight of seniors facing displacement, young families unable to purchase homes, and low-income renters on the brink of eviction. She criticized the Trump administration's proposal to eliminate the HOME program, arguing that it undermines decades of efforts to support affordable housing initiatives. Pressley stated, "The affordable housing crisis didn't happen on its own. It's the result of decades of disinvestment in our housing programs."

The discussion also touched on the inefficiencies within the HOME program, particularly the excessive red tape that complicates funding processes. Witnesses highlighted that in high-cost markets like California, multiple funding sources are often required to initiate affordable housing projects, leading to delays and increased costs. Streamlining regulations was identified as a critical step to expedite housing development without compromising tenant protections or environmental standards.

Representative Miss Pedersen from Colorado echoed these sentiments, noting that housing affordability is the top concern among her constituents. She pointed out that Colorado has become the sixth most expensive state for housing, with median home prices doubling over the past decade. The HOME program has been vital in providing assistance to families in need, but its future remains uncertain due to proposed budget cuts.

The meeting underscored a bipartisan commitment to improving the HOME program, with members recognizing the necessity of investing in housing solutions rather than defunding essential programs. As the committee moves forward, the focus will be on finding practical solutions to enhance the effectiveness of the HOME program and ensure that it continues to serve as a lifeline for communities grappling with housing challenges.

In conclusion, the discussions at the meeting highlighted the critical intersection of housing policy and social equity. With the stakes higher than ever, the committee's next steps will be crucial in determining the future of affordable housing in America and the well-being of countless families.