
Real Talk with Leigh Brown
Can We Actually Make Housing More Attainable? | Rent Control, Mortgages & Down Payments
What does it really take to make housing more attainable? This week on From the Rooftops, I'm looking at several very different proposals aimed at housing affordability and homeownership, starting with a proposed rent stabilization ordinance in Santa Barbara, California. The Santa Barbara City Council approved a draft Residential Rent Stabilization and Rental Registry Ordinance with amendments and sent it forward for formal introduction. The proposal includes annual rent adjustments equal to 60% of the Consumer Price Index or 3%, whichever is lower, along with a seven-member, tenant-majority Rent Stabilization Board. I'm also digging into a request from Rep. Lauren Boebert for federal regulators to explore mortgage underwriting and credit-score reforms. Her letter calls for consideration of more flexible down-payment requirements, rental-payment history and nontraditional income patterns when evaluating borrowers. For REALTORS® and other commission-based or self-employed workers, that last piece should sound familiar. Then there's the newly introduced Homeownership Promise Act from Sen. Jeff Merkley, cosponsored by Sen. Ron Wyden. The proposal would create Homeownership Promise Accounts offering eligible first-time homebuyers a $5 federal match for every $1 saved toward a down payment. It's a proposed bill, not a $50,000 homebuyer giveaway that's available today. I also return to Western North Carolina two years after Hurricane Helene with a story from my latest Bricks and Grit about a family whose nine-month-old home was destroyed in a landslide while the mortgage remained. Through Patriot Relief, I've seen firsthand how complicated housing becomes when the house itself is gone but the financial obligations remain. Housing affordability touches rental policy, mortgage qualification, down payments and what happens to property owners after disaster. REALTORS® need to understand what is actually being proposed before our clients encounter the headline. This week's From the Rooftops was prerecorded while I'm in Louisiana with Louisiana REALTORS®. Premieres Thursday at 9:00 AM ET. Chapters 0:00 Why housing attainability matters more than affordability 2:10 Santa Barbara proposes disastrous rent control plan 4:39 Tenant-controlled boards will worsen housing shortages 6:46 Mortgage qualification changes aim to help first timers 10:46 Down payment myths keep buyers out of the market 12:33 Government down payment plans will fuel inflation 17:42 Mortgage rates rise because of global economic shifts 23:29 Banks fail families after natural disasters strike ––––––––––– Leigh Brown is a REALTOR®, broker-owner, auctioneer, national keynote speaker, and author whose work helps professionals lead with confidence, communicate with purpose, and build businesses rooted in trust and relationships. Book Leigh for Your Conference or Event https://www.leighbrown.com/speaker ️ Watch Real Talk with Leigh Brown and From the Rooftops https://www.youtube.com/playlist?list=PL-9nEf0QTnKTBSf9lF5n5dbbHSK-65KWd Learn more at https://LeighBrown.com





