There's some good news on the affordable housing front. Or maybe I should say there's the potential for good news there in 2008.

Both the House and Senate passed legislation this year to create a National Affordable Housing Trust Fund Account. This would be a dedicated funding source for the development, preservation and rehabilitation of 1.5 million affordable homes over 10 years.

Heaven knows this area badly needs more affordable housing. Even with prices currently sinking,  housing remains unaffordable for many people given the average wages in this area. And all those new retail shops in Culpeper, Warrenton and Gainesville aren't going to help! Find me one that pays enough for their employees to qualify for a mortgage!

While both the House (HR 2895) and Senate (S 2523) have passed these bills, they are, of course, different versions. So they'll have to be reconciled in 2008. And, that's where they're likely to run into some trouble.

Right now these bills are bipartisan efforts. The Senate version, for example, was sponsored by three Republicans and three Democrats. But there are definitely those who oppose this bill, particularly for the funding mechanism, with revenues coming primarily from Fannie Mae and Freddie Mac.

So, if this is an issue that's important to you, please contact your Senators and Congressional Representative. It would be a nice gift to bring in the New Year!