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Unlocking Affordable Housing: Biden Administration Targets Local Regulations

March 25, 20242 min read

Unlocking Affordable Housing: Biden Administration Targets Local Regulations

The Biden administration has long prioritized tackling the pressing issue of affordable housing. In a recent Economic Report to Congress, a significant spotlight was placed on the crucial topic of "Increasing the Supply of Affordable Housing." What's noteworthy is the administration's novel approach: targeting local land-use regulations and zoning restrictions to enact change.

Acknowledging the challenges in the realm of affordable housing, the report highlights a national shortage estimated at 1.5 million to 3.8 million homes, partly attributed to restrictive land-use regulations and zoning constraints. While some regulations serve legitimate purposes such as safeguarding community interests, many others act as artificial barriers, driving up housing costs and impeding growth.

The focus shifts towards federal interventions to catalyze change at the local level. Initiatives like the Pathways to Removing Obstacles to Housing (PRO Housing) program, spearheaded by the Department of Housing and Urban Development, exemplify this approach. By awarding $85 million in competitive grants to communities committed to dismantling barriers to affordable housing, the program aims to spur transformative reforms.

Key reforms highlighted in the report include facilitating the construction of multifamily housing, particularly near public transportation hubs, legalizing accessory dwelling units (ADUs), and abolishing minimum parking requirements and density restrictions. These measures aim to diversify housing options while preserving the flexibility for single-family home construction.

Yet, despite these efforts, challenges persist. For instance, a Department of Transportation program offering transit-oriented loans for housing projects has faced hurdles, with no housing projects successfully closed due to lengthy approval processes spanning 18 to 24 months.

In navigating these complexities, the Biden administration remains steadfast in its commitment to addressing the housing crisis by reshaping local regulations and fostering an environment conducive to affordable housing development.

Should you need an experienced commercial real estate broker, please feel free to contact me at 281-222-0433.

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© 2023-2024 Bill Rapp, Medallion Funds LLC, Director of Capital Advisory


Biden administrationLocal housing regulationsaffordable housingLand-use regulationszoning restrictionsIncreasing housing supplyPRO Housing ProgramAccessory dwelling units (ADUs)multifamily housingtransit-oriented developmentDepartment of Housing and Urban Development (HUD)
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Bill Rapp - Commercial & Residential Mortgage Broker

Whether you're a first-time homebuyer, a seasoned investor, or a business owner with ambitious plans, securing the right financing is crucial. At Medallion Funds, we take the guesswork out of mortgages, offering a comprehensive suite of residential and commercial loan options to fit your unique needs. Looking for Your Dream Home? We understand the excitement and challenges of navigating the residential real estate market. Our experienced mortgage brokers will guide you through every step, from pre-qualification to closing. We offer a variety of loan programs to suit your financial situation, including: • Fixed-rate mortgages: Offering stability with predictable monthly payments. • Adjustable-rate mortgages (ARMs): Providing competitive rates for a set period. • FHA loans: Making homeownership accessible with lower down payments. • VA loans: Rewarding veterans with attractive rates and flexible terms. Investing in Your Business Future? Growth often requires capital, and we can help you unlock the potential of your commercial property. Our brokers specialize in a wide range of commercial loan options, including: • Purchase loans: Financing the acquisition of new buildings or land. • Construction loans: Facilitating the development of your project. • Refinance loans: Restructuring your existing mortgage for better terms. • SBA loans: Providing access to government-backed financing for qualified businesses. The Medallion Funds Difference: We go beyond simply finding a loan. We take the time to understand your goals and develop a personalized strategy. Here's what sets us apart: • Expertise: Our brokers have a deep understanding of both residential and commercial lending. • Competitive Rates: We leverage our strong lender relationships to secure the best possible terms. • Streamlined Process: We handle the paperwork, keeping you informed every step of the way. • Exceptional Service: We're committed to providing you with a positive and stress-free experience. Ready to Take the First Step? Contact Medallion Funds today for a free consultation. Let's discuss your financing needs and help you achieve your dreams!

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This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply. Copyright © 2021 | Medallion Funds


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Corporate NMLS NMLS # 1825831 | Company Website: https://medallionfunds.com/bill-rapp/

Copyright ©2021 | Mortgage Viking Team Licensed to Do Business | NMLS # 228246

This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply

Corporate | NMLS ID NMLS # 1825831

Corporate Address : 11920 Southern Highlands Parkway, Suite 302, Las Vegas, NV 89141 https://medallionfunds.com/bill-rapp/