Biden Announces Major New Action To Lower Housing Costs

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The Biden administration has announced new actions that will lower housing costs and limit rent increases.

According to a White House fact sheet provided to PoliticusUSA:

President Biden is taking action to make renting more affordable for millions of Americans.

Today, President Biden is announcing new actions to lower housing costs, including:

• Calling on Congress to pass legislation giving corporate landlords a choice to either cap rent increases on existing units at 5% or risk losing current valuable federal tax breaks;

• Repurposing public land sustainably to enable as many as 15,000 additional affordable housing units to be built in Nevada; and

• Rehabilitating distressed housing, building more affordable housing, and revitalizing neighborhoods, including in Las Vegas, Nevada.

The President called on Congress to make the American Dream a reality for more families by passing the Biden-Harris Housing Plan, which would build 2 million homes, and provide $10,000 in mortgage relief to unlock homeownership for millions of Americans. Already, more
units are under construction than at any time in over 50 years, and the rate of new housing starts is up 17 percent compared to the last Administration.

The Biden-Harris Administration is using all available tools to lower housing costs, including limiting rent increases on rentals built with federal tax credits; supporting local communities that are building more housing; standing up to price-fixing by corporate landlords setting high rents for tens of millions of apartments; and cutting energy costs by making housing more efficient and climate resilient.

What The Biden Administration Is Saying About Housing

A senior administration official told PoliticusUSA during a call with reporters:

Today, we are announcing a new government-wide effort to repurpose federal land and other properties to build more affordable housing. This is a crucial component of our agenda. The federal government is the biggest landowner in the country, and some of its land is currently underutilized or entirely unused. The President is asking federal agencies, from the Department of the Interior to the Department of Defense to identify opportunities to repurpose surplus property to build more affordable housing.

We know this is a critical national need, and that is why it is this priority across agencies. I do want to say agencies are already taking action, and I’m pleased to announce that today, the Bureau of Land Management is announcing forthcoming sales under the Southern Nevada Public Lands Management Action Program, the biggest ever sales under the program, which will create hundreds of affordable units for sale and for rent. And BLM is now working with local governments in Southern Nevada and an additional 562 acres that have been identified as appropriate for housing, which could support an additional 15,000 affordable units or more in Southern Nevada.

The federal government is the biggest landowner in the country, and some of its land is currently underutilized or entirely in use, as I said, the President is asking federal agencies to address this problem. BLM is now working with local governments in Southern Nevada on additional support, as I noted, and the Biden-Harris administration is also calling on state and local governments and other public entities to follow our lead and consider the land they hold may be suitable for housing development. The opportunity is massive.

New analysis released today estimates the development potential of underutilized state and local government plan land near transit, transit locations at roughly 1.9 million units. Additionally, tomorrow, HUD is announcing $325 million in Choice Neighborhoods implementation grants, which is funding to communities across the country to build more homes and revitalize neighborhoods that have been left behind. That funding will go towards Choice Neighborhoods. This funding goes to the largest place based program that exists within the federal government. Choice Neighborhoods. The Choice Neighborhoods program has transformed communities nationwide with each year’s annual appropriations. HUD is looking to expand the program’s reach to as many communities as possible. So with that, we are thrilled with the work that has been undertaken, the private and public sector are stepping up. It is really that we move this ball forward, and that is why the President is excited about making these announcements tomorrow in Las Vegas Choice Neighborhoods.

These are the sorts of actions that are taken when a president cares about the problems of regular people. In contrast, what has Donald Trump said about the cost of housing? Trump spends most of his time promising to deport people, but he never talks about the real issues that are making life hard for millions of Americans.

If voters can cut through the media nonsense and learn about the candidates, they will learn that only Joe Biden cares and will try to do something about their problems.