The U.S. Department of Housing and Urban Development has named University of Southern California Lusk Center for Real Estate Director, Richard K. Green, one of the nation’s preeminent housing economists, as senior advisor for housing finance. Green replaces Edward Golding, who was selected by the White House in March to head the Federal Housing Administration.
“After dedicating my career to the study of housing economics and providing research and information intended to guide our country’s housing policy, it’s an honor to be invited to the front lines of our nation’s effort to provide safe, affordable housing to all,” Green said.
During the one-year appointment, which begins July 1, Green will advise on one of HUD’s top strategic objectives: The creation of a sustainable housing system that provides support during market disruptions. Working with HUD’s Office of Policy Development and Research (PD&R), he will help set the agenda for housing finance research and play a key role in a range of housing finance projects.
Specifically, Green will help guide HUD’s ongoing efforts to ensure continued access to home ownership and multifamily investment opportunities for creditworthy borrowers while avoiding the problem of private gains and public losses. He will be part of PD&R’s work with the FHA on issues that involve both offices and participate in cross agency housing groups, such as the weekly housing deputies meetings at the White House and the rental housing policy working group.
Meanwhile, the USC Lusk Center has named Raphael Bostic, director of the USC Bedrosian Center on Governance and former assistant HUD secretary, as interim director. Bostic, who was previously the Lusk Center’s interim director prior to joining HUD for the first three years of the Obama administration, will direct both centers until Green returns to USC after June 2016.