 |
| Federal Home Loan Bank of Chicago | Community Investment eNewsletter | December 2012 |
| |
| Advisory Council Spotlight: Diane Schobert |
 Diane Schobert is the business development officer for Forward Community Investments (FCI) in Madison, Wisconsin. FCI transforms communities by supporting projects and programs that focus on affordable housing, job creation, economic development, and basic social services. Diane joined the Community Investment Advisory Council in 2010 and is completing a two-year term as its chairperson.
Q: You’ve worked tirelessly on behalf of moderate-income homebuyers. Given the state of the housing market over the last four years, how are you able to instill confidence in this population that homeownership is still a sound social and financial investment?
A: As I work across Wisconsin, I find there is a great deal of distrust in the financial market itself and in the potential for homeownership to really be a “sound investment.” Our nation’s future homeowners need a great deal of basic financial education, since they haven’t in general been given such a foundation, which leads to healthy financial and credit decisions. When they understand and increase their financial capability, once again they will use this knowledge to seek out homeownership as a sound social and financial investment. Our finance industry must take this seriously with more focus and support for basic financial education.
I am working with a community college in northwest Wisconsin on this very topic and it has been extremely well accepted by the students and faculty that we have taught and coached on financial education this semester. I have renewed hope!
Q: It’s widely accepted that rural housing markets are inherently different than urban markets. In your opinion, how so?
A: Rural housing markets provide fewer options to the first-time homeowner. Many rural communities are small and widely scattered, such that, if a young person grew up in a rural community and wants to purchase in the community they know and love, they are often forced to look and purchase elsewhere. Their next best option is to commute many miles to a neighboring community to purchase a home to meet their needs. In many rural communities the population is well established and older homeowners are staying in their homes, which also creates the smaller market. I am aware of many rural communities, where it is understood, that in order for a home to come on the market–someone has to die. Part of the solution is basic economics; our efforts must focus on creating additional supply to address the unmet demand.
Q: This marks the end of a two-year term as chairperson of the Community Investment Advisory Council. What was your biggest ‘a-ha’ moment?
A: I am very grateful for this leadership opportunity on the Community Investment Advisory Council. I know that I am not alone when I say that when elected to this position, I knew there was much to learn. The best ‘a-ha’ moment for me was soon after elected chair when I attended the annual gathering of all of the 12 Federal Home Loan Bank Advisory Council Leaders. I realized immediately that I wasn’t alone in my desire to learn more and that there were many seasoned leaders across the nation with whom I could share ideas, ask questions, and learn. As a group of leaders, we are colleagues who work jointly to provide input to our various programs within the FHLBank system. |
|
 |
|
Back to Top |
 |
| Federal Home Loan Bank of Chicago |
200 East Randolph Drive
Chicago, IL 60601
www.fhlbc.com |
Copyright © 2012, Federal Home Loan Bank of Chicago. “Downpayment Plus,” “DPP,” “Downpayment Plus Advantage,” and “DPP Advantage” are registered trademarks of the Federal Home Loan Bank of Chicago. | | |
