Incentivize the elimination of exclusionary zoning and dangerous land use insurance policies. One of probably the most persistent and binding constraints on housing supply is exclusionary zoning legal guidelines and practices. For a long time, such legal guidelines have inflated housing prices, locking households out of areas with extra alternatives. Increasing the supply of multifamily housing is a cornerstone of the Administration’s plan to alleviate housing provide constraints. One proven way to do so is to extend the affordability of financing for building multiunit dwellings, significantly these targeted at low- and moderate-income renters. FHFA will authorize Freddie Mac to purchase mortgages for single-wide manufactured properties, thereby extending its 2020 authorization to Fannie Mae.
Meanwhile, condo growth has surged again, to meet the rising demand from prospective patrons who’ve been priced out of the housing market, or who can’t find what they want because of the extreme scarcity of houses for …Read More