U.S. Department of Housing and Urban Development Office of Inspector General ’s Post

Our latest Alert has updates about multifamily housing news in Prince George's County, Montgomery County, and the City of Rockville in Maryland, as well as in the District of Columbia. We also check in on state and national policy and politics, including former Maryland Governor Larry Hogan's recent announcement and the potential implications for development and other business issues in the state. Follow the link to read the Alert: https://bit.ly/3VOJ7Mq #MultifamilyHousing #RentControl #BallardRealEstate

Thru mid-April, states with largest year/year % change in median housing principal and interest monthly payments were Connecticut (+16%), New Jersey (+14.8%), and Massachusetts (+14.8%) per Freddie Mac 

Thank you to The Dallas Morning News’ editorial board for endorsing propositions G, H, and I and recommending voters pass these propositions as an investment in our city's future: https://lnkd.in/gP_XNJk9 On Prop G, “…no one can dispute the need for more homes for lower-income residents, and it’s reasonable for a portion of bond funds to go toward gap financing for well-vetted projects. A $36.6 million commitment to housing is a lot of money for taxpayers but ultimately a modest investment given the cost of construction. “On Prop H, “…We support neighborhood infrastructure to attract lower income and “missing middle” development.” On Prop I, “…This year’s bond would fund more effective solutions, so vote yes on Proposition I to help the city shelter struggling Dallasites and improve quality of life for us all.” #DallasHousingForAll #DallasHousingCoalition

A summary of VP Harris's housing related comments from her speech on economic policies this afternoon in Pittsburgh. Nothing really new - outside of tagging a # to help for the builders - and it's a big one. $40 billion. ▶ Emphasized expanding tax credits to encourage the construction of affordable starter homes, particularly for first-time buyers, and proposed a $40 billion tax credit to make building these homes more appealing to developers. ▶ Highlighted her plan to offer up to $25,000 in down payment assistance for lower-income first-time homebuyers. ▶ Noted that streamlining the permit approval process could help reduce red tape and speed up housing development, addressing the nation’s housing shortage by aiming to build 3 million new homes by 2028. ▶ Called attention to corporate landlords driving up housing costs and endorsed the Stop Predatory Investing Act to reduce their influence on the housing market.

Wonderful to see this headline on my morning walk. This is in large part due to the tenacious organizing of the Tenant Union Federation (TUF) and leadership of Tara Raghuveer: https://lnkd.in/gw3HeGT6 The deets from Grace White of TUF: The Federal Housing Finance Agency (FHFA) will require 30-day notice before rent increases, 30-day notice before lease expirations, and a 5-day grace period before imposing late fees in all multifamily properties with financing supported by Fannie Mae and Freddie Mac moving forward. This will cover an estimated 1.2 million units in 2025, and an additional 1.2 million units each year after. Repurposing of federal land for the creation of tens of thousands of affordable housing units. HUD will announce $325 million in Choice Neighborhoods grants to build new deeply-affordable homes across the country

This Plan amendment for redevelopment of the Judicial Complex in Fairfax County “proposes 300 multifamily residential units comprised entirely of #affordable and/or #workforce multifamily residential units. The residential units proposed will be targeted primarily to households earning 60% or below AMI. Income tiers above and below the targeted AMI may be considered as long as the average household income for the proposed residential units achieves an average at or below the 60 percent AMI. #publiclandforhousing #colocationwithpublicfacilities

Why Winning The New York City Housing Lottery Is Almost As Good As Winning The State Lottery Contact me to discuss the latest scoop in real estate! #newyorkrealestate #newyorkrealestateagent #newyorkrealestatebroker #longislandrealestate #hamptonsrealestate #nyrealestate #realestatenyc #realestateny #manhattanrealestate #compassny

Is affordable housing still part of the American Dream? President Biden recently proposed measures aimed at reducing housing costs, including capping rent increases at 5% and repurposing public land for new housing developments. This initiative aims to address the longstanding issue of high rents and the difficulty many face in buying homes. Actions include: - **Capping rent increases to no more than 5% annually** - **Rehabilitating distressed housing** - **Repurposing surplus federal land for affordable housing** Federal agencies like Fannie Mae and Freddie Mac will also require landlords to provide 30-day notices for rent increases and lease expirations, alongside a five-day grace period for late fees. As a Realtor in Florida, I'm committed to helping families find affordable housing options. Let's build a future where every American has access to a home they can afford. #AffordableHousing #AmericanDream #RealEstate #HousingMarket #CommunityHousing

There’s a new bill in California that would make it easier for the State and municipalities to borrow money to purchase/convert existing units into affordable housing. But a last-minute amendment in the bill was negotiated by National Association of Realtors exempting Single Family Homes from being purchased. The ballot measure would still allow local bond issues to provide funds for the construction of smaller affordable Single Family Homes. The ban applies to purchasing existing homes I believe this is the start of policies which will prevent large scale buyers from buying existing Single Family Homes.  #affordablehousing #realestate #california https://lnkd.in/gF5Qh7Kx

🚨Attention Landlords & Real Estate Investors! 🏘️📈 Virginia's legislative landscape is buzzing with talks on housing affordability. Two significant bills aimed at regulating rent increases have made headlines, though they've faced different outcomes. 📜💼 🔹 Senate Bill 366 & House Bill 721 aimed to cap annual rent increases between 7%-15%, enforce a 2-month notice before rent hikes, and introduce anti-rent gouging measures. While SB 366 was defeated, HB 721 is being revisited in 2025 with the potential for a pilot program. 🛑🔍 🔸 This move reflects a growing dialogue on rent stabilization and affordable housing, amidst rising rent prices that are burdening residents across Virginia. 📊💬 As investors, how do we navigate this changing landscape while ensuring sustainability and growth? 🌐📈 💡Let's discuss: How can we balance fair rent practices with investment returns? The impact of these proposed regulations on future housing supply and quality. Innovative solutions to contribute positively to the affordable housing crisis. Your insights are valuable! Share your thoughts and strategies on embracing change and fostering a thriving real estate investment environment. 🤝🗨️ #RealEstateInvesting #HousingAffordability #LandlordLegislation #VirginiaRealEstate #InvestorDiscussion