Biden Administration Releases New Housing Supply Action Plan

May 17, 2022

Today, the Biden Administration released a new Housing Supply Action Plan with the aim of closing the housing supply gap in five years. This plan, part of the Administration's efforts to combat inflation, looks to ease the burden of housing costs by boosting supply of quality housing. The five-year plan will start with the creation and preservation of hundreds of thousands of affordable housing units in the next three years, in addition to other policies, such as rental assistance and down payment assistance.

Aspects of the plan include:

  • Rewarding jurisdictions that have reformed zoning and land-use policies with higher scores in certain federal grant processes, for the first time at scale.
  • Deploying new financing mechanisms to build and preserve more housing where financing gaps currently exist, such as manufactured housing, accessory dwelling units (ADUs), two- to four-unit properties, and smaller, multifamily buildings.
  • Expanding and improving existing forms of federal financing, including for affordable multifamily development and preservation.
  • Ensuring that more government-owned supply of homes and other housing goes to owners who will live in them - or non-profits who will rehabilitate them - not large institutional investors.
  • Working with the private sector to address supply chain challenges and improve building techniques to finish construction in 2022 on the most new homes in any year since 2006.

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