The United States has an overwhelming shortage of affordable housing — an estimated 4 to 7 million homes, according to Pew Trusts. The Biden administration, led by President Joe Biden and Vice President Kamala Harris, is trying to change that.
At the end of June, Harris and US Department of Housing and Urban Development Acting Secretary Adrianne Todman announced that the Biden administration is giving an $85 million grant to the Pathways to Removing Obstacles to Housing program.
“President Biden and I believe that every American deserves affordable housing so they have a roof over their head and a place to call home,” Harris said when announcing the grant. “That is why we have a plan to build millions of new units of affordable housing in communities all across our nation.”
PRO Housing held a competition that aimed to identify and remove barriers related to affordable housing production and preservation and mitigate housing costs. The contest required participating communities to prove their commitment to addressing housing barriers and creating more housing-forward communities. More than 175 communities from 47 states and territories submitted applications.
HUD chose winners that demonstrated creative strategies to combat barriers, such as high costs of land development, lack of available units, underutilized vacant land and property, aging housing stocks, and inadequate infrastructure.
House Republicans also unveiled a bill that would provide $90.4 billion for Housing and Urban Development and US Transportation. After accounting for housing revenues, Congress would provide $99 billion for federal transportation and housing programs, which is a cut of more than $4.4 billion from 2024.
Biden announced further actions the administration is taking to combat the housing crisis. He called on Congress to pass legislation that gives corporate landlords a choice to either cap rent increases on existing units at 5 percent or risk losing current federal tax breaks. Biden also plans to repurpose public land in Nevada for 15,000 new affordable housing units to be built and rehabilitate distressed housing. Through these measures, the Biden administration aims to combat Republican members of Congress who have blocked its housing agenda.
Housing affordability is the top voting issue for Generation Z voters in the upcoming presidential election, according to a Redfin-commissioned survey in February 2024. More than nine in 10 adult Gen Z voters say housing affordability is important when considering which presidential candidate they will vote for. Gen Z voters surveyed were more likely to rank housing affordability as an important factor in their vote than other issues, such as the economy, abortion and gun rights, preserving democracy, and foreign wars.
Housing affordability emerges as an essential issue for voters, the efforts laid out by the Biden and Harris administration highlight a proactive response from the federal government to make housing more accessible and affordable.
–July 18, 2024–
