[video clip] >> i would like to follow up on questions from representative normand because have a concern about housing costs related to equity and negative impact on minority communities. i think you said in your paper activity in the housing sector continu to weaken, rgely reflecting higher mortgage rates. as she mentioned, the rates are higherot only impacting housing, but multifamily house a, and also becoming -- housing and also becoming more difficult for people in my district, 70% latino, touy their first home. the workforce entry-level housing as financing homes get harder and mortge rates rise the population of homebuyers are skewg towards older, wealthier and broader communities and in many cases it is our suburbs equityirms are buying out the housing. do you speak about the relationship between federal reserve interest rate hikes and housing equity and what needs to change here? >> we need to get inflation under control so that interest rates can come back down. in the meantime, they are high because inflation a hurting all american constituents. it is our job under the law to

[video clip] >> i would like to follow up on questions from representative normand because i have a concernut housing costs related to equity and negative impact on minority communities. i think you said in your paper activity in the housing sector continued to weaken, largely reflecting higher mortgage rates. as she mentioned, the rates are higher not only impacting housing, but multifamily house a, and also becoming -- housing and also becoming more difficult for people in my district, 70% latino, to buy their first home. the workforce entry-level housing as financing homes get harder and mortgage rates rise the population of homebuyers are skewing towards older, weahier and broader communities and in many cases it is our suburbs. equity firms are buyg out the housing. do you speak about the relationship between federal reserve interest rate hikes and housing equity and what needs to change here? >> we need to get inflation under control so that interest rates can come back down. in the meantime, they are high because inflation is a hurting all american constituents. it is our job under t