DR. RAPHAEL BOSTIC SWORN IN AS ASSISTANT SECRETARY FOR POLICY DEVELOPMENT AND RESEARCH

WASHINGTON - Dr. Raphael Bostic was sworn in today as the Assistant Secretary for Policy Development and Research at the U.S. Department of Housing and Urban Development. He was confirmed by the U.S. Senate on July 10, 2009.

"Planning communities in a more integrated, sustainable and inclusive way is the key to advancing economic opportunity and improving quality of life for the families we are trying to reach," said HUD Secretary Shaun Donovan. "Dr. Bostic and his research team are a critical element in our efforts to work smarter and more collaboratively to elevate the standard of living for thousands of families."

"I am very excited to serve the country at this pivotal moment in its history," said Bostic. "I am eager to support the President's and Secretary Donovan's efforts and work to help heal the nation's ailing housing markets. I look forward to rebuilding HUD's policy development and research capabilities to serve Secretary Donovan's ambitious agenda and allow HUD to support and promote innovation."

Most recently Dr. Bostic served as a professor in USC's School of Policy, Planning, and Development. Dr. Bostic, an expert on housing and homeownership, also extensively studied the roles that credit markets, financing, and policy play in enhancing household access to economic and social amenities.

He was formerly Director of the school's Master of Real Estate Development degree program and was the founding director of the Casden Real Estate Economics Forecast. Prior to that, he worked at the Federal Reserve Board of Governors, where he was awarded a Special Achievement Award for his performance associated with a review of the CRA.

Dr. Bostic previously served at HUD in 2000 as a special assistant for Susan Wachter, HUD's Assistant Secretary for Policy Development and Research from 1998 to 2001.

He earned his Ph.D. in Economics from Stanford University and his BA from Harvard University.

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