Whereas the United States is experiencing a severe housing crisis, with an estimated shortage of more than 7,000,000 rental homes affordable and available to extremely low-income households, leaving millions without access to safe and stable housing;

Whereas nearly half of all renter households are cost-burdened, with over 12,000,000 spending more than 50 percent of their income on housing, threatening their ability to afford other basic necessities;

Whereas rental prices have increased by more than 35 percent since 2020, while median household incomes have grown by only 22 percent over the same period, contributing to rising homelessness and housing instability;

Whereas shelter inflation continues to drive core services inflation, disproportionately impacting low- and moderate-income households and impeding economic mobility;

Whereas the private housing market alone cannot meet the needs of extremely low-income renters, and public investment in affordable housing has not kept pace with demand;

Whereas Federal rental assistance reaches only 1 in 4 eligible households, leaving millions without support despite meeting income qualifications;

Whereas significant portions of the Nation’s subsidized housing stock are aging, with some properties facing mismanagement, disrepair, or loss from affordability requirements;

Whereas the housing crisis impacts every region and demographic, disproportionately harming communities of color, seniors, people with disabilities, low-wage workers, and single-parent households;

Whereas solving the housing crisis requires coordinated action across Federal, State, and local governments, and the engagement of private, nonprofit, and philanthropic sectors to expand supply, preserve affordability, and ensure tenant protections; and

Whereas policies that encourage responsible development, incentivize preservation, and protect vulnerable renters are essential to stabilizing communities and promoting housing equity: Now, therefore, be it