On June 6, the American Property Owners Alliance led a discussion with Axios on housing affordability in Dallas. Guests joined in-person and virtually to hear conversations with local experts and leaders, including David Noguera—the City of Dallas’ Director of Housing and Revitalization, Linda McMahon—President and CEO of The Real Estate Council, and Texas State Representative John Bryant.

I also had the pleasure of joining Axios on stage for a View from the Top segment examining barriers that prevent Americans from achieving homeownership and pro-housing solutions on the table that can address these challenges head-on.

Throughout the event, speakers discussed the lack of housing supply and the need for housing affordability in Dallas, as well as the wealth-building benefits of homeownership. With June being National Homeownership Month, there was no better time to have these conversations.

Dallas faces the challenge of effectively accommodating current residents as new ones rapidly move in—ensuring every household can not only find a home in this growing city but find one that meets their unique goals and financial needs.

The Dallas area isn’t the only area trying to navigate this obstacle as the current housing shortage impacts communities all throughout America.

According to a survey by NerdWallet, nearly 28 million Americans began 2023 with a plan to purchase a home in the new year, yet only about 1 million homes are available on the market today. What’s more, fluctuating mortgage rates are not only keeping buyers from entering the market, but they’re also preventing current owners from selling, limiting supply even more.

As we discussed in Dallas, prioritizing the policies that will invest in affordability and provide communities with the tools to increase supply is key to improving the path to homeownership for all.

Today, the low-income housing tax credit serves as a critical resource, providing an incentive to construct and rehabilitate affordable rental housing for low- and moderate-income households.

What’s more, on the table right now is the Neighborhood Homes Investment Act, legislation that would renovate and rehabilitate homes in the communities most in need of investment, adding about 500,000 affordable homes to the market. On top of that, policymakers can further increase housing supply by passing the Revitalizing Downtowns Act, legislation that would convert unused commercial and office buildings into residential and mixed-use spaces.

Those who joined us in Dallas know that homeownership is one of the most significant ways to build wealth in America—it is an investment in you, your family, your community and the country. Advancing the solutions that will both unlock more equitable access to homeownership and unlock more value for current homeowners is essential to protecting this investment for years to come. Though we discussed them in Dallas, these solutions can support all areas throughout the country facing housing shortages.

As we continue through National Homeownership Month and what’s proving to be a volatile year for the market, I look forward to seeing how the Administration supports these policies and expands their efforts to improve homeownership in America.

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