HUD, a $73 billion entity managing over $2.6 trillion in government-backed mortgages, faces a housing affordability crisis impacting millions. With Secretary Turner stepping in, filling leadership roles is critical as public housing aids over 4.6 million households. Notably, homelessness rose by over 18% in 2024. The National Low Income Housing Coalition alerts of a 7.3 million-unit affordable rental shortfall, predominantly in costly urban centers. Secretary Turner must reinforce HUD's fair housing objectives amid a changing regulatory environment while managing the FHA's over $1.5 trillion portfolio and rising loan redefaults.
"The unmet need in public housing is enormous and is related to the housing affordability crisis that millions of Americans are encountering, leaving many homeless."
"Secretary Turner will need to navigate difficult terrain that ensures and strengthens HUD's robust fair lending and fair housing enforcement while resolving the Biden Administration's withdrawal of the previous Trump administration disparate impact rule."
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