The U.S. House of Representatives recently approved an appropriation of $500 million for fiscal 1992 for a new federal program designed to provide housing and to states and localities -- far below the $1.5 billion level housing lobbyists are hoping to get from Congress.

"We're very disappointed," said John C. Murphy, the executive director of the Association of Local Housing Finance Agencies.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.