At FHLBank San Francisco Homeownership Solutions Summit, Public Officials, Academics, Housing Experts, and Banking Executives Say More Quality Jobs are Needed to Substantially Increase Homeownership Rates

PHOENIX, April 19, 2023 – In a wide-ranging discussion about access to homeownership at the Federal Home Loan Bank of San Francisco’s (FHLBank San Francisco) fourth Homeownership Solutions Summit in Arizona, public officials, academics, construction industry experts, affordable housing practitioners, local lenders, and other stakeholders maintained that strategies and investments that create new opportunities for quality jobs must be a critical part of the equation for increasing homeownership. 

“In strengthening communities for Arizona residents, we must expand the supply of affordable housing,” said Teresa Bryce Bazemore, president and CEO of FHLBank San Francisco. “But we must also address the other side of the equation. We need to do more to ensure that people have quality jobs and the family economic security that allows them to purchase, maintain, and keep their homes.”

Citing the importance of affordable housing to communities and having families and individuals who can afford to buy homes, Bazemore added, “By bringing stakeholders together to share valuable information, insights, and experience gained from working with communities, FHLBank San Francisco is helping to create pathways for individuals and families to achieve their housing and homeownership goals. We want to help more families enjoy the American Dream of homeownership."

The Phoenix event held on March 23 was the final installment of FHLBank San Francisco’s four-city 2022-2023 Homeownership Solutions Summit series. The gatherings have each brought housing and mortgage finance industry stakeholders together to share ideas, explore best practices, and coordinate public and private collaboration to address the urgent demand for access to affordable housing and equitable homeownership opportunity. Summits were also held in Los Angeles, California, Reno, Nevada, and Sacramento, California. Regional experts gathered to address the homeownership challenges facing each city with specific emphasis on breaking down structural barriers in the mortgage finance industry, addressing housing supply, and exploring the challenges and opportunities of downpayment assistance programs.

According to a recent report, 38.1% of new and existing homes sold during the fourth quarter of 2022 were deemed affordable for families with a median U.S. income, indicating a troubling decline in housing affordability in both Arizona and nationally. Stakeholders agreed that establishing pathways to well-paying construction-related jobs through programs like apprenticeships can empower individuals from underserved communities to move into growth industries, ultimately increasing their chances of achieving sustainable homeownership as they contribute to building housing stock where it is most needed.

“By providing robust apprenticeship and vocational programs, investing in younger generations, and supporting rehabilitation initiatives, we can broaden the pool of qualified job candidates, bringing us closer to achieving and maintaining homeownership,” said Joan Serviss, director of Arizona Department of Housing. “By nurturing talent and equipping individuals with the skills they need to succeed, we can ensure that everyone has an equal opportunity to achieve their housing goals.”

Key themes explored in the Summit’s presentations and discussions included:

  • Innovative ideas for increasing the pool of candidates from underserved communities who are qualified for quality jobs
  • How achieving greater diversity in the banking and mortgage finance industries can advance racial equity in affordable housing and homeownership 
  • Promising solutions to the most common issues putting homeowners at risk of losing their homes

For additional information about how FHLBank San Francisco is strengthening communities and changing lives by investing in affordable housing development, advancing solutions to the racial homeownership and wealth gaps, and giving a boost to economic vitality initiatives in underserved communities, please visit

About the Federal Home Loan Bank of San Francisco

The Federal Home Loan Bank of San Francisco is a member-driven cooperative helping local lenders in Arizona, California, and Nevada build strong communities, create opportunity, and change lives for the better. The tools and resources we provide to our member financial institutions—commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions—propel homeownership, expand access to quality housing, drive economic growth, and revitalize whole neighborhoods. Together with our members and other partners, we are changing lives and making the communities we serve more vibrant, equitable, and resilient.

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