Tom knows stable, affordable housing is the basis for economic opportunity.
Affordable Housing & Homeownership
Tom knows stable, affordable housing is the basis for economic opportunity. When Marylanders struggle with housing costs, everything else---higher education, saving for retirement or a first home---dramatically suffers. For the lowest income Marylanders, affordable housing is necessary to avoid homelessness, receive public benefits, and to fully participate in workforce development or mental health services. Affordable housing investment is also fiscally sound and means good paying construction jobs. For every $1 invested by Maryland, $12 in new federal and private investments are leveraged, creating 17,000 jobs over the last ten years.
Tom's Administration will:
- Invest in affordable housing by fully funding Maryland’s highly successful affordable housing program, the Rental Housing Works (RHW) and other state initiatives
- Leverage every federal dollar to help renters and small landlords avoid eviction as the U.S. government’s COVID-19 relief programs wind down
- Pass state laws based on President Obama’s housing policies that promote diverse, inclusive communities. Trump suspended President Obama’s policy and worked to repeal it outright. Maryland should establish these pro-inclusive housing standards for ourselves, which will include vigorous enforcement of our new state law that prohibits discrimination based on source of income
Let’s be clear, however. Homeownership is the best and biggest source of affordable housing. Tom's administration will make expanding homeownership and closing the homeownership gap the centerpiece of his plan for racial justice. Maryland’s white ownership rate is 77 percent compared to Black Marylanders at 52 percent. This disparity only gets worse in the fast-appreciating D.C. suburbs. Homeownership strengthens families, stabilizes neighborhoods, creates wealth, and children of homeowners, especially Black children, have improved economic, health, and educational outcomes. Tom will create the best-in-the-country down payment assistance programs, work to get more people of color to become real estate agents and developers, fully promote Maryland’s homeownership programs, and review the fees charged for new home construction.