White House Launches HUD Program to Lower Housing Costs, Increase Supply

Originally published on July 27, 2023 by the White House.

resident Biden’s economic vision is about building an economy from the middle out and bottom-up, not the top down— that’s Bidenomics. A critical foundation of that vision, and the central goal of the Biden-Harris Administration’s Housing Supply Action Plan, is an economy where everyone has access to a safe and affordable home. That vision means lowering costs, including by building and preserving more housing, particularly for lower- and middle-income households. Today’s announcements will lower housing costs by tackling challenges that have stifled affordable housing for decades, as well as seizing immediate opportunities:

• Reducing barriers to building housing like restrictive and costly land use and zoning rules;
• Expanding financing for affordable, energy-efficient and resilient housing; and
• Promoting commercial-to-residential conversion opportunities, particularly for affordable and zero-emissions housing.

Read More