Econsult Corporation was retained by the Housing Alliance of Pennsylvania to estimate the economic impacts associated with an investment by the Commonwealth of Pennsylvania in a Pennsylvania Housing Trust Fund. In addition to providing housing for families in need, a Pennsylvania Housing Trust Fund would have a stimulative effect on local economies, in the form of spillover expenditures induced, jobs created, and tax revenues generated. Reduced monthly housing payments and, where housing has become more energy efficient, reduced monthly utilities payments also have a stimulative effect on local economies, to the extent that some of that household savings can be spent locally. Affordable homes also contribute to neighborhood stability by stemming the deleterious effect of foreclosures.
Econsult's report was distributed widely as a part of two coordinated efforts. First, the Housing Alliance organized a "Housing Matters Day" in Harrisburg, which connected advocates to state legislators. Lee Huang, Director, spoke about the Econsult report at a press conference that day; and as part of this effort, Mr. Huang appeared with Liz Hersh, Executive Director of Housing Alliance, on a radio show the next day that aired on "Smart Talk" on WITF. Second, the Housing Alliance was part of a State House Committee informational meeting in Philadelphia; Lee Huang, Director, testified to state legislators concerning the economic impacts estimated in the Econsult report.
The report and related materials are presented in the following links and downloadable documents:
 Cutting housing programs will only hurt Pa. economy (Philadelphia Inquirer June 19, 2009)
Potential Economic and Fiscal Impacts of A Pennsylvania Housing Trust Fund (Report)
Econsult Corporation’s Statement of Experience (SOE)
House of Representatives Official Meeting Notice 5-28 5-29-2009
Economist Cautions Legislative Committee Against Housing Cuts (May 28, 2009)
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