On August, 13, 2024, the Biden-Harris administration announced several actions to help increase the supply of affordable housing. Furthering on the administration’s June announcement, which NAR supported, and which awarded $85 million in grants through the Department of Housing and Urban Development’s (HUD) Pathways to Removing Obstacles (PRO) Housing program, today’s actions included an additional $100 million in grant funding to assist state and local governments with identifying and overcoming barriers to housing development.
The administration’s fact sheet to creating more affordable housing included a number of other items, including solutions to interest rate predictability for multifamily development, streamlined processes through the Department of Transportation for loans near transit centers, and a commitment to finalizing its rule for updating the Manufactured Home Construction and Safety Standards.
NAR commends the Biden-Harris administration for continuing to take important steps to address the nation’s critical housing supply shortage.
Read the full fact sheet.
