Fannie Mae Foundation Survey: Housing A Major Issue for Working Families
By Eugene T. Lowe
July 1, 2002
Stacey Davis, President and CEO of the Fannie Mae Foundation, came before the mayors at the housing plenary session on Sunday June 16, and said that "working families consider the lack of affordable homes as big a problem as the lack of affordable health care." This and other major findings were the result of a national survey of 1,004 adults, with an over sample of 300 adults in working families. The survey, conducted by the Peter Hart/ Robert Teeter research firms, also used data from focus groups of working families in Boston, Charlotte and San Diego. The survey defined working families "as families with children who live in metropolitan areas, make as much as $54,000 in household income and include at least one parent who has a full-time job orDavis said of the survey: "The results of our study are fascinating. We all know the lack of affordable homes was a growing problem — but now we can cite the concerns of real Americans to prove to others that housing should be made a national priority."
Davis said of the survey: "The results of our study are fascinating. We all know the lack of affordable homes was a growing problem — but now we can cite the concerns of real Americans to prove to others that housing should be made a national priority."
The survey found that in addition to health care, affordable homes for working families is also a "hot button issue like unemployment, crime, and polluted environment." Davis said: "Just think about that for a second — affordable housing at the top of the list with health care. I don't know about you, but I was certainly surprised. I don't have to tell this group how important health care has been to working families, or how much policy and media attention the issue has received. And now, working Americans, believe affordable housing is just as crucial."
Some of the survey other findings include:
8 out of 10 working families say down payment for a home would be an obstacle.
46 percent think there are few or no good options for people with similar finances.
45 percent expected they would be living in a much nicer place at this point in their lives.
44 percent o Americans with children say the lack of affordable homes is a very or fairly big problem compared to only 35 percent of those with no children.
56 percent of working families worry that their kids won't be able to own a home when they grow up
9 in 10 working families who rent want to own a home.
8 in 10 expect someday to be homeowners.
Americans think federal, state, and local governments need to do more.
And, they support a broad range of policy measures, such as employer- assisted housing, low _income housing tax credits and the new home ownership tax credit.
Davis concluded her remarks with a quote that she said "summed up this research better than we even could." The quote was from a female nurse in Charlotte, NC. "I'm stuck. I've been here 20 years, and I'm 40- something years old. I've raised two children. My son is 26. I have a daughter who is 18. I have two grandchildren now. And, here I Ôm still stuck in an apartment. I want to have a home for these kids. I'm a nurse. I've been a nurse for 20 years. I have a good job. I go to work every day, but I still can't afford a house, and that's really sad to me. I feel stuck, but you know, I push hard..."
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