Home / Daily Dose / Fannie Mae Working to Improve Homeowner Conditions and Affordability
Print This Post Print This Post

Fannie Mae Working to Improve Homeowner Conditions and Affordability

Fannie maeA good chunk of Americans cannot afford to live in areas near better schools and childcare, according to a poll conducted by Fannie Mae. According to the survey, 46% of American adults said they would prefer to live in a community with access to better schools and/or childcare, but cannot afford to do so; while 58% say communities with better job opportunities are too expensive for them to live in.

"When families live in stable and affordable homes in a sustainable community, they have greater opportunities to prosper in other aspects of life, including educational and economic advancement," said Maria Evans, Vice President of Sustainable Communities, Fannie Mae. "When nearly 6 in 10 Americans have to sacrifice economic opportunities and nearly half have to sacrifice quality education and childcare because of housing affordability, it's clear we need to bring new ideas to the marketplace."

"The affordability, quality, and location of where one lives has substantial implications for outcomes in education and economic mobility," said Evans. "Through the Sustainable Communities Initiative, Fannie Mae aims not only to create stability through housing, but also to catalyze opportunities in education and forge pathways to economic mobility."

To address these housing affordability concerns, Fannie Mae announced a Call for Ideas to identify innovative solutions. This is part of Fannie Mae’s Sustainable Communities Innovation Challenge (The Challenge) a two-year, $10 million commitment by Fannie Mae to find promising solutions that address the nation's shortage of affordable housing through partnerships in sectors adjacent to housing.

“We recognize the value in breaking down silos to work with new partners on issues that are inextricably linked to affordable housing in order to create comprehensive solutions,” said Fannie Mae’s VP of Sustainable Communities Maria Evans. “We are fostering sustainable communities by incubating innovative ideas that directly address our mission to bring affordability and stability to underserved areas and help ensure those residents have access to healthy, affordable, safe places to call home.”

About Author: Seth Welborn

Seth Welborn is a contributing writer for DS News. He is a Harding University graduate with a degree in English and a minor in writing, and has studied abroad in Athens, Greece. An East Texas native, he also works part-time as a photographer.
x

Check Also

Investing in Short-Term Rentals

Short-term rental companies such as Airbnb are creating significant traction in the rental investment market. Learn what investors need to look out for when getting in to STR.

GET YOUR DAILY DOSE OF DS NEWS

Featuring daily updates on foreclosure, REO, and the secondary market, DS News has the timely and relevant content you need to stay at the top of your game. Get each day’s most important default servicing news and market information delivered directly to your inbox, complimentary, when you subscribe.