The new rule would ask localities receiving federal funding to report on their housing market outcomes and propose concrete steps for improving affordability.
by Christian Britschgi
The U.S. Department of Housing and Urban Development (HUD) sent a major rewrite of federal fair housing regulation to Congress in late December.
The proposed rule would ask localities receiving federal housing funding to report on their housing market outcomes and then to propose concrete steps for improving housing affordability. Localities that either have affordable housing or see housing become more affordable over a five-year period could be rewarded with additional grant money and other incentives. The department told Congress it would “focus remedial resources and potential regulatory enforcement actions” against the lowest-performing jurisdictions.