The Bipartisan Policy Center's Housing Commission has released a new report entitled, Housing America's Future: New Directions for Housing Policy.

The report makes extensive recommendations on national housing finance policies, addressing the urgent needs of very low income renters, assuring an adequate supply of affordable rental homes for current and rising new households, and emerging areas of innovation for further study.

The commission's four co-chairs -- former Sens George Mitchell, Christopher "Kit" Bond and Mel Martinez, and former HUD Secretary Henry Cisneros -- and the 17 other commissioners will be meeting with policy makers and stakeholders throughout the country in the coming months to promote the report and its recommendations.

The plan calls for reforms that would establish a new performance-based system for delivering federal rental assistance with greater devolution of responsibilities to state and local providers. The commission also proposes to shift existing resources to assist more effectively the most vulnerable households, and to preserve and expand the Low Income Housing Tax Credit program to increase the supply of affordable rental housing.

For first-time home buyers, the report emphasizes the importance of housing counseling as a means of preparing for homeownership. The commission recommends proposals to enable seniors to “age in place” safely and affordably while integrating housing with health care and other programs. For the one-third of Americans who live in rural areas, the commission recommends continued support for homeownership and rental assistance in those communities.

The recommendations in the report are the culmination of a 16-month process that engaged the housing community both inside and outside of the Beltway through a series of roundtable discussions and regional housing forums.

To access an executive summary and full report, click here.