A set of proposed policies would give tax relief to homebuyers and owners, but experts say a mismatch between supply and demand remains at the root of the crisis.
The Biden administration is proposing several actions to improve housing affordability, including a pair of new tax credits, report Bryan Mena and Anna Bahney for CNN. The credits would include a $10,000 credit for middle-class home buyers and a $10,000 credit for existing homeowners who sell their ‘starter homes’ at a price below the local median.
“Rent is 30% higher today than it was before the pandemic, and home prices are now more than 40% higher.” Meanwhile, the nation faces a shortage of between 1.5 million and 7.2 million homes, signaling that policies that address demand do little to impact the low supply of housing.
According to a report from the Federal Reserve, “In the long term, despite a surge in construction in late 2020 and 2021, it appears that a variety of factors — including zoning and other regulatory hurdles — have prevented construction from keeping up with underlying demand, resulting in a gross housing vacancy rate that is at a historical low.”
FULL STORY: Biden says he can fix America’s housing affordability crisis. Will it work?
Minnesota Seeks State Support for Office Conversions
The 30% “CUB credit” would support the conversion of buildings 15 years or older into any use that “will return that vacant area to an income-producing, habitable condition.”
Fannie Mae Economists Predict Slow Housing Market in 2025
A December report forecasts a continued “lock-in effect” due to high mortgage rates and a low production of multifamily housing.
Report: How Billionaire Buyers Are Making the Housing Crisis Worse
The financialization of the housing sector is driving up costs for ordinary families and keeping available units off the market.
Trump Administration Could Effectively End Housing Voucher Program
Federal officials are eyeing major cuts to the Section 8 program that helps millions of low-income households pay rent.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Canada vs. Kamala: Whose Liberal Housing Platform Comes Out on Top?
As Canada votes for a new Prime Minister, what can America learn from the leading liberal candidate of its neighbor to the north?
Washington State’s Parking Reform Law Could Unlock ‘Countless’ Acres for New Housing
A law that limits how much parking cities can require for residential amd commercial developments could lead to a construction boom.
Wildlife Rebounds After the Eaton Fire
Following the devastation of the Eaton Fire, the return of wildlife and the regrowth of native plants are offering powerful signs of resilience and renewal.
LA to Replace Inglewood Light Rail Project With Bus Shuttles
LA Metro says the change is in response to community engagement and that the new design will be ready before the 2028 Olympic Games.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Central Transportation Planning Staff/Boston Region MPO
Heyer Gruel & Associates PA
Institute for Housing and Urban Development Studies (IHS)
City of Grandview
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