Federal Issues
Administration Announces Updates For Housing Supply and Multifamily Housing
August 20, 2023
Late last month, the Biden Administration announced two initiatives to boost the housing supply and offer guidance for multifamily properties. A few of the items outlined in the announcement include the creation of a competitive $85 million grant program to help communities identify barriers to affordable housing production and streamlining financing through the Department of Housing and Urban Development (HUD), allowing larger loans to participate in the department's Low-Income Housing Tax Credit program.
For multifamily housing, the administration reiterated their commitment to proposed rulemaking for renters in project-based rental assistance housing (PBRA) and other public housing programs to finalize existing-HUD policy which requires housing providers to give 30-days' notice for lease termination because of nonpayment of rent. As noted in the announcement, this is already an existing HUD policy. Use this LINK to get more information regarding these updates
About the PBOR Market Brief
The Paulding Board of REALTORS® (PBOR) Market Brief is compiled by First Multiple Listing Service (FMLS). For more information on details of this month's report, please contact the Board at 770.866.1397.
*Each month, the numbers reported for the previous month are updated to reflect additional recordings.
About the Paulding Board of REALTORS®
The Paulding Board of REALTORS® (PBOR) has been an instrumental factor in the growth of real estate in Paulding County, Georgia for more than a decade. PBOR serves as a central source of information for its members, with mainly focusing on real estate education, the promotion of professionalism in the industry and representing REALTORS® members with legislative initiatives to create positive change for the real estate community.
About First Multiple Listing Service
First Multiple Listing Service (FMLS) is the premier data services provider for real estate professionals in Georgia. FMLS was founded in 1957 by a group of Brokers who wanted to share their listings and connect buyers and sellers. Today FMLS is the largest MLS in Georgia & the 4th largest MLS in the United States, serving nearly 54,000 real estate Agents & Brokers. For additional information or to start a discussion about how to partner with FMLS please contact join@fmls.com.