White House releases plan to boost housing supply
by Brett Samuels - 05/16/22 5:00 AM ET
The White House on Monday outlined a plan to boost housing availability and lower costs for renters and homeowners, portraying it as part of a broader effort to combat inflation for Americans.
The administration released a “Housing Supply Action Plan” that officials said would produce more housing supply, including affordable units, in the next five years.
“When aligned with other policies to reduce housing costs and ensure affordability, such as rental assistance and down payment assistance, closing the gap will mean more affordable rents and more attainable homeownership for Americans in every community,” the White House said in an outline of the plan.
Among the measures detailed as part of the plan are using new financing mechanisms to build and preserve more housing where there are currently financing gaps and expanding federal financing by making certain loans more widely available for multifamily developments.
The plan also includes steps to ensure government-owned housing goes to owners who will live in the dwellings, or nonprofits who will rehab the buildings, rather than large investment firms that may neglect the properties.
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https://thehill.com/news/administration/3489453-white-house-releases-plan-to-boost-housing-supply/
