Tackling Affordability with Fannie Mae’s Multifamily Chief

June 14, 2017                                     By: Jeff Hayward

Renters who struggle to meet rising monthly payments with modest incomes are also fighting to live close to work, school or family members. To combat this problem, Fannie Mae's Executive Vice President and Head of Multifamily Jeff Hayward calls on all stakeholders to rethink the way they create housing for low- and moderate-income residents.

More than one-third of U.S. households—about 44 million—are renter households, and nearly 60 percent of those are classified as low-income. Many struggle to make rent payments, buy food and afford the basics.

Jeff Hayward, Executive Vice President and Head of Multifamily, Fannie Mae

At the same time, these households often face rising rents, a decline in the number of vacant low-income apartments and only modest growth in their paychecks. Many families are forced to find a less expensive rental or stay put and pay higher rent. It’s a difficult choice, especially for families trying to stay close to work, school or relatives................Read More