Courtney On DCP Report On Crumbling Foundations

WASHINGTON, D.C. (RealEstateRama) — Congressman Joe Courtney (CT-02) released the following statement after the Department of Consumer Protection (DCP) released its crumbling foundations report required by the Connecticut General Assembly:

“This report documents the work done to date by the staff of the Department of Consumer Protection. As such, it accurately lays out the Commissioner’s efforts which have been laudable. Unfortunately, it totally begs the question of what needs to happen next to solve this problem, which will require the concerted effort of all levels of government. Today, local officials in 23 communities we know have impacted homes are taking the brunt of declining property assessments. This horrifying situation poses a grave threat to the housing market of a significant part of the state which will have a negative ripple effect across our state’s economic recovery. My office received confirmation last August that federal resources can be applied to this problem through the Department of Housing and Urban Development. Local leaders are hard at work trying to leverage these resources, which combined with help from other stakeholders, insurers, lenders and home builders can stop the escalating harm this report identifies. I look forward to working with my colleagues in the federal delegation, area legislators and local officials to flush opportunities like these out further.”

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