Biden Administration Seeks to Unlock Housing Market Potential with City Zoning Reform Proposals!

Biden Economists Call for Federal Action to Tackle Housing Affordability Crisis: Addressing Zoning Constraints Key to Solutions

Pathways to Removing Obstacles to Housing: Incentivizing Affordable Housing Support with Federal Funding

In their most recent Economic Report of the President, the economists working for the Biden administration argued for federal action to alleviate the country’s housing affordability crisis. The report highlights the need to increase housing supply by addressing local zoning constraints, as rising mortgage rates and home prices are forcing many families out of the housing market. With proposals like $20 billion in competitive grants and the Pathways to Removing Obstacles to Housing program, which gives incentives to towns supporting affordable housing, the administration hopes to use government funding to encourage municipalities to loosen strict zoning laws.

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Biden Administration Seeks to Unlock Housing Market Potential with City Zoning Reform Proposals!(PHOTO: getty images)

While the report’s diagnosis of the housing supply issue has garnered praise, some, like former Trump administration economist Kevin Corinth, question the extent of federal intervention proposed. Critics argue that using federal grants as leverage for zoning reforms may overstep the government’s role. Nevertheless, the report emphasizes the potential of federal funding to incentivize policymakers to meet housing policy goals. With rising home prices and restrictive zoning policies hindering affordable housing construction, the administration sees addressing local constraints to supply as crucial in tackling the housing affordability crisis.

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