Biden administration unveils action plan to boost affordable housing
“Among the new policies announced Monday are steps to leverage existing federal funding to encourage state and local reform to zoning and land use policies, a senior administration official told reporters, via funding from the bipartisan infrastructure law and the Department of Transportation. A second official noted that the administration will take steps to improve federal financing mechanisms for manufactured housing, multifamily housing, and the construction and rehabilitation of single-family homes.
There are also steps to finance or produce more manufactured housing, accessory dwelling units — also known as garage apartments, basement apartments or backyard homes — 2-4 unit properties and smaller multifamily buildings, according to a White House fact sheet.
The administration will also direct supply of affordable housing for owner-occupants, which the second administration official said is aimed at addressing “the growing trend of large institutional investor purchases of single family homes.'”