USA Spending Says Oregon Federal Housing Obligations for FY 2008-FY2010 YTD Were $1.25 Billion, But that is WAY Understated.

USASpending.gov now has canned reports showing "housing " spending for ALL federal agencies.  

Using USASpending.gov data I have pasted an Oregon table below with my summary by agency of federal housing spending for FY 2008, FY 2009, and FY 2010 YTD. (Tip: USASpending.gov allows you to construct customized reports for other geographies, time periods, and programs as well as by assistance type [grants, direct payments, contracts etc).

HUD accounted for $1.142 billion in obligations shown by USAspending.gov, or 89% of all housing obligations. Housing vouchers were the largest single program at $523 million, and the Housing Authority of Portland was the biggest single "housing" recipient in the state, with obligations totalling $250 million. 

[Link HERE is a summary of Oregon "housing" data for these three years from USASpending.gov].


FHA/VA Loan Guarantees Not Included, and Would Add $13 Billion to Total Oregon Federal Housing Spending.

While the $1.28 billion in obligations (all types) is impressive, in looking at the details I realized that FHA and VA loan guarantees do NOT appear to be included, and these have been record setting years for these programs. (It's Illogical from where I sit to exclude those programs),

Combined I estimate that those two programs likely would add another $13+ Billion over this time period to bring the SUBTOTAL to $14+ billion in federal housing obligations in Oregon for these three fiscal years (with several months still remaining in FY 2010).

More Federal Housing Spending that is NOT Included.

A.Federal tax expenditures for

• Mortgage interest, property tax deductions or the home buyer tax credit.(CBO estimated those at $127 Billion annually).
• Rental related programs like low income tax credit, accelerated depreciated etc (CBO estimated those at $12 Billion annually).
• 5 year loss carry back provisions, with first year estimated costs of $33 Billion. 

B. Any funding required for the bail out of Fannie Mae and Freddie Mac, costs that have been estimated to be in the range of $500 billion-$1 Trillion. 

C. Any HAMP related funding and TARP funding for programs like the Hardest Hit program. 


USASpending.gov Housing Spending in Oregon, FY 2008-FY2010 (Partial):

Agency	2008	2009	2010	Grand Total
Grand Total	$  406,408,881	$  590,826,471	$  288,040,076	$  1,285,275,428
Department of Agriculture	$       13,839,980	$       24,204,766	$       16,766,145	$          54,810,891
Department of Commerce	$           299,998		$             30,014	$              330,012
Department of Defense	$        2,632,194	$       17,273,849	$           340,607	$          20,246,650
Department of Education	$             13,133	$             14,001		$                27,134
Department of Energy	$           466,505	$       43,075,535	$        2,222,843	$          45,764,883
Department of Health and Human Services	$        2,023,486	$        1,300,000	$        1,175,000	$           4,498,486
Department of Homeland Security	$        4,359,270	$           867,642	$           865,546	$           6,092,457
Department of Housing and Urban Development	$  378,483,697	$  500,524,764	$  263,678,534	$  1,142,686,995
Department of Justice	$        2,629,850	$        2,532,942	$        2,458,438	$           7,621,230
Department of State	$             54,401			$                54,401
Department of the Interior	$           500,219	$           180,594	$           138,569	$              819,381
Department of Transportation		$           731,686	$             (1,062)	$              730,624
Department of Veterans Affairs	$             48,904	$           105,896	$             11,100	$              165,900
General Services Administration	$        1,020,800	$             14,321		$           1,035,121
National Aeronautics and Space Administration	$             44,459			$                44,459
National Science Foundation			$           347,900	$              347,900
Small Business Administration	$             (8,015)	$                  475	$               6,443	$                (1,097)

Originally created and posted on the Oregon Housing Blog.