In observance of American Housing Month in June, the ABA Foundation today released an infographic that examines affordable housing challenges consumers face and highlights how the nation’s banks are working to ease the burden on consumers. Given the current limited housing supply, nearly one-third of American households devote more than 30% of their income to housing costs, according to the infographic.
“America’s banks are keenly aware of the housing affordability challenges facing the country,” said ABA President and CEO Rob Nichols. “That’s why institutions across the country are stepping up and working closely with non-profits, community development financial institutions, state housing finance agencies, the Department of Housing and Urban Development, as well as Fannie Mae and Freddie Mac to ensure their customers have access to the most affordable products and services.”
In addition to the infographic, the Foundation has created additional resources for Housing Month, including tip sheets in English and Spanish. The Foundation is also hosting a two-part webinar series to help educate bankers and consumers on the issues and possible housing options. The first webinar, which will be held today at 3:30 p.m. EDT, will provide a look at local housing solutions and partnerships with housing finance agencies.