Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following opening statement during a Housing and Insurance Subcommittee hearing entitled, “The Characteristics and Challenges of Today’s Homebuyers.”

Thank you very much. The American dream of homeownership symbolizes financial security, economic mobility, and a sense of belonging. But for too many in today’s market, this is a dream deferred; a dream reserved only for the wealthy.

Our constituents are confronting aging homes at historically high prices, rising interest rates and insurance costs, hidden fees from industry, and ongoing discrimination.

People are working more jobs, longer hours, and still can’t seem to make it. These are not new issues, but they are made that much worse as the affordable housing crisis grows—something that Committee Republicans have shown absolutely no interest in solving.

So, I welcome today’s witnesses and our discussion, but Congress must come together to create real pathways to affordable housing and homeownership for all.

I yield back.

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