The U.S. Department of Housing and Urban Development (HUD) has released new research—”Opportunities to Increase Housing Production and Preservation“—that outlines the strategies being pursued by state and local governments to remove regulatory barriers to affordable housing and increase housing supply.
The details:
– The new research is published by HUD’s Office of Policy Development & Research (PD&R)
– These strategies are part of HUD’s initiative to add nearly 100,000 affordable homes to the markets in the next three years
– The strategies will be incorporated into HUD’s Regulatory Barriers Clearinghouse, which has over 4,800 barriers and solutions and provides a catalog of information that spans all 50 states and over 460 cities and counties
– Insights will be used for zoning reform in President Biden’s Build Back Better Plan
The takeaway:
The research warns that if supply is not improved, cost burdens will likely rise, potentially pricing out homeowners and renters.
“This research is a testament to the Biden-Harris Administration’s commitment to increasing and preserving our nation’s affordable housing supply,” said HUD Secretary Marcia L. Fudge in a statement. “The research makes clear that there is bipartisan support for state and local reform to improve housing affordability, and underscores how the President’s Build Back Better Agenda would strengthen the federal government’s capacity to help jurisdictions meet the housing needs of their residents. HUD and the Administration will remain hard at work to build inclusive, equitable communities through affordable housing.”
