CONVERGENCE: Housing Affordability
CONVERGENCE is driving collective action with lenders, other industry participants and government partners to facilitate new solutions to our nation's rental and housing affordability challenges. By using a cohesive approach, CONVERGENCE promotes more sustainable, affordable homes for purchase and rental for underserved people and communities, especially minorities and low-to-moderate-income Americans.
Member Tools on Affordable Housing
Environmental Scan, Affordable Rental Housing Challenges & Opportunities
This scan encompasses a comprehensive outlook on affordable multifamily challenges and identifies areas where MBA can play a strategic role in this space. The scan summarizes input from the Affordable Rental Housing Advisory Council, consumer advocates, housing experts, and MBA staff on possible solutions for affordable multifamily housing issues such as the limited affordable rental housing supply and the effects of COVID-19. Download the scan
Environmental Scan, Affordable Homeownership Challenges & Opportunities
This scan identifies the fundamental elements of the affordable homeownership problem and potential solutions. MBA staff consulted with experts in housing and housing finance, consumer groups, and civil rights organizations. The paper summarizes key findings and opportunities where MBA and its members can have the greatest positive impact on affordable homeownership. Download the scan.
Affordable Housing Policy Agenda
Affordable Housing Policy Agenda identifies policies that can be implemented by regulatory and legislative action at the federal, state, and local levels to help promote housing affordability across a wide range of incomes and across both rental
housing and homeownership. Recognizing that the issues underlying our nation's housing affordability challenges are constantly evolving, this Policy Agenda will be modified as circumstances and priorities change.
(updated in December 2022)
Access our previous agenda from 2020.
This agenda was created pre-pandemic when policy efforts were largely focused on how to improve the status quo - a situation where the affordable housing market was overpriced and undersupplied. Since the COVID-19 pandemic, however, affordable housing policy has largely focused on reducing the adverse impacts of the pandemic. In effect, the focus with respect to affordable housing has pivoted, for now, from aspiration to mitigation. This Policy Addendum outlines these current and on-going efforts, recognizing the evolving affordable housing challenges posed by COVID-19. Download the addendum.
Measuring Housing Affordability
This extensive presentation includes historical and current statistics, at the state and national levels, on financial access, housing cost burdens, borrower income, housing availability and other obstacles for lower-income borrowers. Download the research presentation deck here.
MBA is helping by developing stronger and more effective affordable housing partnerships in both the policy and business arenas and launching strategic initiatives in cities ripe with market opportunity. CONVERGENCE Memphis, launched in March 2020, is the first of these initiatives. Co-led by MBA and the Tennessee Housing Development Agency, CONVERGENCE Memphis is working to strengthen African American homeownership in the Memphis metropolitan area. Non-profits, public officials and industry stakeholders are coming together to discuss scaling opportunities, identify barriers and gaps for homeownership, and chart their potential solutions.
News About CONVERGENCE
MBA Announces 2023 Affordable Homeownership Advisory Council
MBA Announces the Affordable Housing Alliance of Central Ohio as Local Host of CONVERGENCE Columbus
MBA and NFHA Launch Online Toolkit to Help Lenders Develop Special Purpose Credit Programs for Underserved Communities
MBA Selects Philadelphia as its Third CONVERGENCE City
CONVERGENCE Memphis Launches New Nonprofit Organization
MBA Statement on the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) Action Plan
MBA CONVERGENCE Partner Profile Series: E.J. Thomas, President & CEO of Habitat for Humanity-MidOhio
Making Affordability A Priority: A Discussion with MBA’s Katelynn Harris Walker
MBA Announces 2022 Affordable Homeownership Advisory Council
MBA CONVERGENCE Partner Profile: David Dworkin, National Housing Conference
Past CONVERGENCE Event Recordings
April 25, 2022: Measuring Housing Affordability in America | Slide Deck
February 17, 2022: The 2022 Legislative Outlook for Affordable Housing
September 16, 2021: Mayors and Affordable Housing: Perspectives from City Hall
July 8, 2021: Intersections of Supply and Demand Challenges in Accessing Affordable Homeownership
May 26, 2021: The Future Is Female: How Women Are Shaping the Future of Housing
March 19, 2021: Analyzing Housing Supply Shortages in the U.S.
January 15, 2021: Expanding Homeownership to Close the Racial Wealth Gap
Solving This Together
"Housing affordability is an issue facing millions of Americans, both those who rent and those who want to buy a home. There is no easy solution. The only way we are going to solve this is by getting lenders together with policymakers, consumer advocates, community leaders, and other stakeholders, and using our collective knowledge and experience to find the answers."
Steve O'Connor, MBA's Senior Vice President for Affordable Housing Initiatives