Washington, DC – U.S. Senator Lisa Blunt Rochester (D-Del.), a member of the Senate Banking, Housing, and Urban Affairs Committee, today introduced the Permanent Housing Affordability Act. By providing seed funding for shared equity housing construction and land acquisition, this legislation would leverage one-time public investments to bolster our nationwide stock of permanently affordable housing. The companion legislation in the U.S. House of Representatives is led by Congresswoman Kim Schrier (D-Wash.-8).
“For too many Americans, the idea of owning a home is a pipe dream – unaffordable and out of reach,” said Senator Blunt Rochester. “Through an innovative concept called shared equity ownership, my Permanent Housing Affordability Act will break down barriers to accessible homeownership, putting more families on the path toward generational wealth. As I’ve said before, it’s time for the federal government to get off the sidelines and help make housing more affordable, accessible, and attainable for all. I’m proud to have written this bill to bring us one step closer to accomplishing that goal.”
“Home ownership has become unaffordable and unattainable for millions of Americans, especially for young people here in Washington State,” said Congresswoman Schrier. “Throughout this district, constituents tell me that, especially at a time when prices for groceries, gas, and healthcare are skyrocketing, they can’t fathom saving enough to purchase a home. This legislation bolsters an important tool in the toolkit to stand against Wall Street interests and help families achieve home ownership.”
The Permanent Housing Affordability Act:
- Establishes a Lasting Home Affordability Fund to provide low-cost construction loans to construct or rehabilitate permanently affordable homes in high-demand areas.
- Creates a Lasting Affordability Homeownership Grant Pilot Program to purchase vacant land or existing properties to develop permanently affordable housing.
- Authorizes federal transfer of surplus property to Community Land Trusts (CLTs) at discounted rates.
- Requires the Department of Housing and Urban Development (HUD) to research shared equity models and share best practices with lenders, home builders, and the public.
Shared equity homeownership is a self-sustaining model that requires a one-time public investment to make a home affordable for a lower-income family and then restricts the home’s sale price to maintain affordability in perpetuity. 95% of shared equity homes are priced affordably for low- to moderate-income families. The model balances wealth building for families who would otherwise be unable to afford homeownership with preserving the community’s investment. Roughly 60% of shared equity homeowners go on to purchase market-rate homes, using their earned equity as a stepping stone to traditional homeownership.
The Permanent Housing Affordability Act is endorsed by Grounded Solutions Network, National Housing Conference, American Planning Association, NeighborGood Partners, Community Legal Aid Society, Inc., The WRK Group, Delaware National Association of Housing and Redevelopment Officials (NAHRO), Wilmington Land Bank, Habitat for Humanity of New Castle County, Habitat for Humanity of Central Delaware, Sussex County Habitat for Humanity, National NeighborWorks Association, Congress for the New Urbanism (CNU), Incremental Development Alliance, National Community Stabilization Trust (NCST), National NeighborWorks Association, NC CLT Coalition, Washington Affordable Cooperative Housing Network, Habitat for Humanity Seattle-King & Kittitas Counties, Washington State Community Land Trust Coalition, and Virginia Statewide CLT.
“Grounded Solutions Network congratulates Senator Blunt Rochester and Representative Schrier on their introduction of the Permanent Housing Affordability Act,” said Doug Ryan, Vice President of Housing Policy at Grounded Solutions Network. “This bill, which would advance the development of shared equity homeownership, would make homeownership possible for families across the country who are now priced out. Shared equity homeownership is a proven tool, one that uses funds efficiently, and ensures future generations of families can own homes. We have a worsening homeownership crisis. The Permanent Housing Affordability Act will help our nonprofit members and local leaders develop affordable homes that meet their communities’ needs.”
“The housing affordability crisis affects every community in our nation, and we need innovative solutions to boost more affordable housing supply,” said David Dworkin, President and CEO of the National Housing Conference. “The Permanent Housing Affordability Act would empower communities to leverage public investment to develop long-term affordable housing, helping close the housing supply gap and putting the dream of homeownership in reach for hardworking families. We welcome this creative approach that builds on successful state and local models to help more households access the wealth-building opportunity of homeownership.”
“The National NeighborWorks Association commends Senator Blunt Rochester and Congresswoman Schrier for their leadership on the Permanent Home Affordability Act,” said Lou Tisler, Executive Director of the National NeighborWorks Association. “For NeighborWorks-chartered organizations nationwide, this bill will provide practical tools to expand shared equity homeownership and keep homes affordable for the long term. It is a smart investment that strengthens communities while creating a pathway to homeownership for hardworking families who would otherwise be priced out.”
“I applaud Senator Lisa Blunt Rochester for introducing the Permanent Housing Affordability Act that will foster the development of shared equity housing by providing funding for construction and land acquisition,” said Karen Speakman, Chief Executive Officer of NeighborGood Partners. “Shared equity housing models such as Community Land Trusts, that retain ownership of the land and the homebuyer owns the house, provide permanently affordable homes. This is due to a restricted resale price that preserves long-term affordability. Unlike traditional federal subsidy programs, shared equity housing only requires a one-time public investment for the housing to remain affordable, making them an excellent investment.”
“Sussex County Habitat for Humanity is proud to endorse the Permanent Housing Affordability Act,” said Kevin Gilmore, Chief Executive Officer of Sussex County Habitat for Humanity. “Our local organization has recently adopted an affordable ground lease model as a tool to keeping home sales prices affordable in our high-cost market. Investing in lasting affordability models will help jumpstart affordable house production and provide accessible home prices for the current and future homebuyers of these homes.”
“The scale of the affordable housing problem is such that we need a multitude of solutions to address the need,” said Kevin L. Smith, Chief Executive Officer of Habitat for Humanity of New Castle County. “We are appreciative and supportive of Senator Blunt Rochester’s many efforts to move the needle on this issue, most recently her bill to provide seed monies for shared equity housing and site acquisition we believe will make a huge difference.”
“Shared equity homeownership models, including community land trusts, strike an important balance—allowing families to build wealth while ensuring that public investments in housing remain affordable over the long term,” said Tim Bailey, Chief Executive Officer of Central Delaware Habitat for Humanity.
“The WRK Group is proud to support the Permanent Housing Affordability Act sponsored by U.S. Senator Lisa Blunt Rochester (D-DE), which represents a critical step toward creating lasting, accessible homeownership opportunities. By providing funding for land acquisition, construction, and shared equity models, this legislation empowers organizations like ours to expand permanently affordable housing in Riverside and beyond,” said Logan Herring, Chief Executive Officer of The WRK Group. “PHAA not only helps families achieve the stability and wealth-building potential of homeownership, but it also strengthens our community by preserving affordability for generations to come. The WRK Group looks forward to this bill becoming law as it will aid the economic vitality of families who depend on our efforts to combat the current housing affordability crisis here in Wilmington and throughout the nation.”
The introduction of this legislation builds on Senator Blunt Rochester’s dedication to addressing our nation’s housing shortage and affordability crisis. In September 2025, she introduced “The New Way Home Agenda: A Federal Framework to Address America’s Housing Crisis,” her comprehensive legislative agenda to lower housing costs in Delaware and across the nation. In March 2026, the Senate passed the 21st Century ROAD to Housing Act, a landmark bipartisan housing package that contains two of Senator Blunt Rochester’s bills aimed at increasing housing supply and lowering costs nationwide.
A one pager on the bill is available here. Full text is available here.
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Senator Lisa Blunt Rochester represents Delaware in the United States Senate where she serves on the Committees on Banking, Housing, and Urban Affairs; Commerce, Science, and Transportation; Environment and Public Works; and Health, Education, Labor, and Pensions.