We find ourselves in an affordable housing crisis that shows few signs of abating. Unsurprisingly, the impact of this crisis has disproportionately crushed society's most vulnerable, particularly Black and Brown and low-to-moderate income individuals, families, and communities. The barriers to solving this crisis are myriad and complex. Among the most challenging are record-low housing supply and home price appreciation, disruptions in the "virtuous cycle" of home buying, excessive housing cost burden, the ravages of income, wealth, and employment gaps, constriction of access to sustainable credit, and other setbacks caused by the Great Financial Crisis and the COVID-19 pandemic. Each of these barriers also reflects elements of structural racism and a lack of equity and inclusion. The American Dream of homeownership seems less attainable than ever for millions who are the most at-risk in our society. And the picture is equally if not more dire for renters, who are more vulnerable to housing instability generally and face difficulty in accessing available Emergency Rental Assistance funds at a time when eviction moratoria and other pandemic aid are expiring.

In this session, we will aim our focus on the need for affordable housing from a housing and housing finance perspective. The construction of affordable housing units has historically been limited by restrictive zoning as well as gaps in local funding and resistance from residents. Concurrently, affordability continues to decrease, fueled by low supply, rising cost, and increased consumer financial vulnerability. This private session will ask leaders to devise solutions that will incentivize housing development while structuring financial tools to widen access to housing, and thus support an equitable and inclusive post-pandemic recovery.