Employer Assisted Housing (EAH) The Smart Right Thing to Do

Later today members of ACAR's Home From Work Task Force will be presenting our version of Home From Work (called Welcome Home Idaho) to the Boise Metro Chamber. Not to a monthly membership meeting, but to the staff management as an HR benefit for Chamber employees.

What's "Welcome Home Idaho"? ...Thanks for asking....Welcome Home Idaho is one of our critical initiatives for 2010.

"Welcome Home Idaho" is a sure fire way to make our Valley more attractive to employers considering expansion or relocation. Its a guaranteed way to increase responsible home ownership among an employee base. Its a proven way to connect HUD partner agencies (like NHS or IHFA) to people needing home ownership assistance.

Based on the successful HOPE Foundation program in Las Vegas, Welcome Home Idaho prepares REALTORS to help people who are interested in purchasing their first home, but don’t know how to get started or who to trust.

Over the course of two training sessions, HOPE Foundation founder Dawn Lane has trained nearly 50 Valley REALTORS in the Home From Work Essentials.

Last week, during the Bringing Workers Home Housing Summit, NAR Regional VP Jim Johnston addressed the conference on how/what and why this program is so important for Idaho. Here is an excerpt...

"As you know, American homeowners and homebuyers are facing some tough challenges today. According to the Harvard Joint Center for Housing Studies’ 2009 State of the Nation’s Housing Report, at last count, nearly 18 million Americans were severely cost burdened (paying more than 50% of their income on housing). But I’ve learned over the years that great challenges also present great opportunities—opportunities for innovation and creative solutions.

Employer-Assisted Housing, usually referred to as EAH, is one of those solutions; it can help address the housing issues of today’s workforce through a broad range of creative models. By implementing even the most basic EAH benefit, employers can have a positive impact on both their employees and their community.

For employees an EAH benefit can mean: the opportunity to own a home of their own for the first time; more time to spend with their family if they buy a home close to their jobs; and safety and security for their family over the long-term. Despite the challenges, homeownership continues to be one of the best long-term financial investments a person can make. In fact, it is the primary way most families build wealth.

And, there are other more immediate benefits to both homeowners and the community. Studies show that children of homeowners do better in school, and homeowners are more active in their communities.

And let’s remember, Housing Education, a core element of an EAH benefit program, is key to ensuring that prospective buyers are well-informed about the process and understand the financial commitment and responsibility of buying a home."

Read the rest of the Jim's remarks.

Overe the next months we will be bringing you more information about this and other REALTOR programs that will continue our Valley's economic recovery.