Hello everyone. This is Juan Carlos Gastelum. I am a real estate investor in Texas, and today on the new-news I’d like to discuss the recently announced President Biden´s administration Housing Supply Action Plan. On May 16th, 2022 President Biden released his Housing Supply Action Plan which essentially attempts to accomplish two goals: 1) to ease the burden of the incremental cost of housing, while 2) making sure that there is enough or sufficient quality housing supply in every community. He attempts to do this by implementing five tactics.
The first of these five tactics is to reward jurisdictions that have reformed zoning and land use policies. Essentially, this means that states and municipalities would get some sort of incentive to be able to change their zoning restrictions and allow for more housing to be built. Second, to deploy new financing mechanisms to build and preserve more housing. Third, to expand and improve forms of federal financing. Fourth to ensure that more government owned homes go to owners and not investors. Fifth, to work with the private sector to improve supply chain challenges and issues, with an emphasis on the ever-increasing cost of building supplies and the challenges to get those supplies to their destinations at a lower cost.
If you have any comments or questions regarding the Housing Supply Action Plan please reach out to us. Be sure to subscribe to our YouTube channel (One Way Texas). That’s it for now. Take care, best wishes on your real estate journey, and God bless!
