The Homes Act of 2024 aims to create a national housing development authority, addressing the affordable housing crisis by actively increasing the inventory of affordable homes.
By establishing the Authority, the bill envisions a public bank and developer that would build millions of permanently affordable homes while stabilizing rents and homeownership opportunities.
The proposed authority would allow local communities the power to finance real estate acquisitions, thereby increasing their involvement in the management of affordable housing.
Setting aside 40% of the inventory for low-income individuals and families shows a commitment to addressing the needs of those most impacted by the housing crisis.
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