Posted on 09/01/2021 4:55:14 AM PDT by Oldeconomybuyer
WASHINGTON — White House officials are outlining plans to build and restore more than 2 million homes, a response to the volcanic rise in housing prices over the past year.
First, it intends to deliver 100,000 affordable housing units over three years through a series of administrative changes. It will increase mortgage availability through Freddie Mac and Fannie Mae for manufactured houses and buildings with two to four units. The government also intends to make it easier for would-be owners and nonprofits to buy homes that failed to sell in foreclosure auctions, as well as expand outreach to local governments and nonprofits to buy federally held homes.
The government also plans to increase the financing options for apartment buildings through tax credits, loans and grants.
Secondly, the Biden administration estimates that its economic agenda would lead to the construction and renovation of 2 million homes. This would include the use of federal subsidies, the low-income housing tax credit, a new tax credit for construction in economically vulnerable neighborhoods and incentives to remove exclusionary zoning and land use policies by local and state governments that limit new construction.
Still, the blog post cautioned that a supply crunch could linger.
“There is no magic formula to quickly relieve the supply constraints,” it concluded.
(Excerpt) Read more at apnews.com ...
Back to Freddie and fannie.
These Marxist will never stop until someone stops them…
Nothing can or will stop the Bidinflation. The global elite will go down with their ship. Unfortunately they are fine to take the rest of us with them.
If the government’s involved, you know it will be affordable!
Sure, let’s give more loans to people who can’t afford them and force government housing in areas that vote Republican. A perfect plan!... if your plan is to destroy the USA.
Oh good, more government housing because the ones we have already are so successful. Maybe they can get some building plans from the former Soviet Union.
Why bother reading this drivel? Socialism requires us lower end animals to be less equal than our superior animals. Landlords/home owners will succumb to the renter/bottom feeder.
I thought liberals were against manufactured housing?
Oh Shit! Now they are gonna ‘fix’ another problem that ain’t there.
2008 Housing bubble bursting redux?
Yep, two agencies that put the "F" back in F--k up.
They are NOT crazy....they want to bring America to it’s KNEES!!!
After their “plan” for dealing with covid and the border and the Afghanistan withdrawal. Not really interested in any more of their ideas.
The only true magic bullets left are
a) normalized interest rates so we don’t see rampant speculation
b) regulatory relief in cities to bring down the cost of lower-priced housing construction
c) teaching children in school proper personal finance so they can understand why a house is one of the proper building blocks
Ironically, one possible long-term benefit of Covid might be to encourage certain industries to subsidize employees who want to work at home with their down payments as part of better compensation plans, instead of matching a 401K plan. That would also greatly help stay at home parents with young children who could work part time for that subsidy. maybe even change the tax rules to let some of that subsidy to be tax-free. I don’t know if it is still true but as an example you have a decent deductibility of long term care premiums for businesses, an equivalent for younger employees for this down payment help should be considered.
https://www.villagevoice.com/2008/08/05/andrew-cuomo-and-fannie-and-freddie
Follow the money as usual.... This will go to the common people just like the plan to eliminate student loans..?? Add to that this desire to mess with “Local” zoning issues. It’s a twofer.
Affordability. Heard that word before?
No, there’ll be no Soviet style apartment blocks or Chicago style Cabrini Greens. These new government housing units will be primarily Section 8, a new neighbor for you and me. Don’t forget who you’re dealing with and their goal of destroying the American middle class (bourgeoisie). Trump saw their coordinated effort to ruin the suburbs and called them out on it.
And those two entities were a real help in times of inflation and stagnation. Freddie Mac and Fannie Mae just froze a very bad situation into a locked position that knew of no other position than forced liquidation of titles on real estate owned.
The US government was in the position of being the biggest landlord in the US at the time. The Great Society run amok.
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