Better Housing Coalition News Blog

Virginia Housing Trust Fund Campaign (UPDATE)

Posted on September 9, 2011 by Better Housing Coalition

The Virginia Housing Coalition has initiated a campaign for a Virginia Housing Trust Fund to be created by the General Assembly.  The housing industry is a critical part of our local economy in Virginia.  The collapse of the home ownership market has had profound economic impact – including the loss of jobs in the construction, sales and financing sectors.  In a down homebuyer market, new pressure on rental housing is driving up rents and pushing affordable housing out of reach for many workers.

Between 2012 and 2022, one-time construction activities from the Housing Trust Fund can inject $1.0 billion into the state economy and support 1,778 jobs.

Click here for the full press release.

Many Virginians would benefit from a Housing Trust Fund, including the middle class, first-time homebuyers, struggling single parents, seniors, people with disabilities and those at risk of becoming homeless.  Action to create a Housing Trust Fund will be a positive signal to the housing industry and put in place a long term strategy so that we will be better prepared to face challenges in the future.

Update: The report prepared by Chmura Economics & Analytics detailing the economic impact of a Virginia Housing Trust Fund was featured in the Richmond-Times Dispatch.  Click here to read the article.

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