(Read more on the multifamily market.)

WASHINGTON, DC-Call it coincidence or political zeitgeist. Either way it is increasingly clear that a momentum is building in Congress and other policy circles in support of affordable housing goals. However when viewed in a longer term context, the advancements that have been made over the last several decades best serve to illustrate how much more needs to be done, advocates say.

July 22 is the 20th anniversary of passage of the McKinney-Vento Homeless Assistance Act. Sheila Crowley, president of the National Low Income Housing Coalition, tells GlobeSt.com that the anniversary is a bittersweet one. "It has been 20 years since that bill has been passed. Although McKinney funds have helped a great number of people they haven't changed the structural problems that create homeless--a lack of affordable housing."

This link, she says, has been missing in the affordable housing debate and only recently resurfaced. That blind spot notwithstanding, Crowley is the first to acknowledge that a momentum is building in the US House of Representative in support of its goals.

"There is considerable enthusiasm in the House right now to pass laws like the National Affordable Housing Trust Fund Act," Crowley says. "There is very powerful leadership in Barney Frank (D-MA) and Maxine Waters (D-CA) as well as the House leadership support of these goals.

"The nice thing about the current political climate is that there is near universal support from Democrats on affordable housing goals and initiatives and substantial support from moderate Republicans."

That said, she continues, the momentum behind affordable housing initiatives in the House, "is only one step in a three-step process: next we need to go to the Senate and then the President."

One example of the momentum in the House is the Section 8 Voucher Reform Act of 2007, which recently passed. The bill would overhaul the housing voucher program.

Another initiative about which Crowley has testified is the legislation that would create a National Affordable Housing Trust Fund. The goal is to provide 1.5 million housing units over the next 10 years.

The new bill, H.R. 2895, will initially allocate between $800 million and $1 billion annually to states and local communities, without increasing government spending or the federal deficit. At least 75% of the funds will be for housing for households that are extremely low income, earning less than 30% of an area's median income.

The fund will be seeded with capital provided in the recently passed Government Sponsored Enterprises' Affordable Housing Fund (H.R. 1427), from savings from Federal Housing Administration reforms contained in H.R. 1852, the Expanding Americans Home Ownership Act, and from any other funding sources that may be subsequently identified. Indeed, Crowley expects to spend the next several years identifying such funding sources.

NLIHC used the opportunity of the anniversary to lobby for additional change. It suggest ten steps that Congress and the administration could take right now to address homelessness•Doubling funds for HUD McKinney-Vento programs.

•Enacting a National Housing Trust Fund.

•Protect, preserve and expand existing federal housing programs that serve the lowest income people.

•Appropriate funds for at least 5,000 Section 8 housing vouchers for homeless veterans through the HUD-Veterans Affairs Supportive Housing program.

•Reauthorize of the Substance Abuse and Mental Health Services Administration, which would expand access to mental health and addiction services to the homeless.

•Reauthorizing and expanding the Consolidated Health Centers program.

•Increase homeless persons' access to mainstream disability income, temporary assistance, and workforce investment services.

•Reauthorizing the Education for Homeless Children and Youth program within the No Child Left Behind Act and the Runaway and Homeless Youth Act.

•Require the Administration to develop and publish a coordinated federal plan to end homelessness.

•Require jurisdictions receiving federal housing funds to protect the civil rights of homeless persons.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.