"According to The Path Home: Rebuilding the American Dream and Restoring Housing Affordability, an array of recommended policy changes could spur at least 8.5 million new and preserved homes over the next decade. As states from California to Texas to Florida relax zoning and streamline permitting, Gallego's plan notes that federal policy is lagging and relies on programs built for a housing market that differs from today."
"A safe, affordable place to call home is the foundation of success in this country, he said. We owe it to the young people of this country to make that achievable again, and that's exactly what this plan sets out to do. His plan builds on legislation he has already introduced. That record includes a December bill that would lower the EB5 visa investment threshold from $1 million to $800,000 when tied to affordable housing construction."
A sweeping housing blueprint proposes a four-pillar agenda to rebuild the American dream and restore affordability. The plan projects that recommended policy changes could generate or preserve at least 8.5 million homes over the next decade. State-level reforms in zoning and permitting are moving faster than federal policy, which still relies on programs designed for a different market. Personal experience is cited to illustrate declining upward mobility and rent pressures. The agenda frames housing as core economic infrastructure and calls for a construction surge supported by tax-code changes, updated Low-Income Housing Tax Credit provisions, and federal financing tools, including an EB5 threshold adjustment tied to affordable housing.
Read at www.housingwire.com
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