White House Urged to Cap Rent at Fannie, Freddie-backed Properties
Please see the attached Politico Pro article detailing efforts of tenant organizers and housing lawyers urging the White House to issue an executive order that would limit rent increases for homes with mortgages backed by the federal government.
Opportunities and Challenges in Federal Community Investment Programs
This week, the Departments of Treasury, Commerce, Transportation, HUD, USDA, and the Small Business Administration jointly published in the Federal Register a Request for Information (RFI), seeking public input on effective approaches for supporting access to affordable capital and financial services in historically underserved communities, including communities of color, rural communities, and tribal communities. The RFI highlights the Biden Administrations commitment to achieving longer-term equitable growth in communities of color, low-income communities, rural areas, and other historically underserved communities. The collected information from the RFI will guide the Committee in identifying and implementing strategies to promote economic conditions and systems that reduce racial disparities and produce stronger economic outcomes for all communities. These strategies may include policy solutions that would help build the capacity of community financial institutions, such as Community Development Financial Institutions and Minority Depository Institutions and ensure historically underserved communities benefit from federal funds authorized by new programs under the Bipartisan Infrastructure Law and the Inflation Reduction Act.
To view the Federal Register Notice, click here.
HUD Virtual House Party Addresses Barriers, Myths of First-time Homebuying
Last week, to help encourage young adults who wish to become homeowners but feel the barriers are too steep, especially in communities of color, HUD Secretary Marcia Fudge hosted a virtual ‘House Party’ and shared information on available federal resources and busted common myths around the homebuying process. With young adult homeowner ship predicted to continue declining for several more decades, Sec. Fudge addressed the importance of debt and credit, and shared information on how federal programs can assist those who view homeownership as an impossibility.
“Too many young people feel discouraged and intimidated by the homebuying process and HUD is here to help,” said Sec. Fudge. “Thanks to student loan forgiveness, many young adults may have more money in their pockets and there are many resources available to help people realize the dream of homeownership. HUD and the Federal Housing Administration are dedicated to helping more young people realize their dream of becoming homebuyers and enjoying the wealth-building benefits that come with it.”
To view a recording of the virtual House Party, click here.
Veteran Homelessness Reduced by 11 Percent Since 2020
This week, HUD, the Department of Veterans Affairs and the U.S. Interagency Council on Homelessness announced preliminary results of the 2022 Point-in-Time Count showing an 11% decline in Veteran homelessness since early 2020, the last time a full count was conducted. This is the biggest drop in Veteran homelessness in more than five years. The data show that on a single night in January 2022, there were 33,136 Veterans who were experiencing homelessness in the United States – down from 37,252 in 2020. Overall, this represents a 55.3% reduction in Veterans experiencing homelessness since 2010.
To view the HUD Factsheet, click here.
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