Miami-Dade County has the second most unaffordable rental market and the fifth most unaffordable housing market of all counties in the United States. During my first term in Congress, I’ve sent letters to Fannie Mae and Freddie Mac, government-sponsored enterprises which allow moderate- and low-income borrowers to purchase mortgages. Florida is the only state in which condo borrowers must pay a 25 percent down payment, compared to the 10 percent that condo borrowers pay in the rest of the country. I, along with the entire Florida Congressional Delegation, strongly urged them to reconsider this policy. I’ve also sent a letter to Secretary of Housing and Urban Development Ben Carson urging him to address the exorbitant down payments that many low-income people of color are forced to pay for their mortgages.
I’ve also cosponsored several bills aimed at increasing housing opportunities. H.R. 95, the Homeless Veteran Families Act, promotes the development and provision of supportive housing to help homeless veterans achieve residential stability and self-determination. H.R. 3511, the Student Debt to Equity Act, establishes a pilot program to provide applicants with federal student loan debt with assistance in purchasing property. H.R. 3077, the Affordable Housing Credit Improvement Act, expands the Affordable Housing Tax Credit to better support low-income Americans.
My experience as former Assistant Secretary for Policy Development and Research at the U.S. Department of Housing and Urban Development and as treasurer of New York City’s Municipal Assistance Corporation has prepared me to address these critical issues. Now, as a Member of Congress, I am fighting for affordable housing in Florida’s 27th district.