New home lot supply drops to cycle lows
Last week, the U.S. Department of Housing and Urban Development (HUD) announced the Affirmatively Furthering Fair Housing rule which is intended to promote significantly greater income diversity in housing outcomes across the U.S., as well as help ensure that affordable housing is maintained, especially in transitioning neighborhoods and areas. HUD secretary Julian Castro said, “Unfortunately, too many Americans find their dreams limited by where they come from, and a zip code should never determine a child’s future. This important step will give local leaders the tools they need to provide all Americans with access to safe, affordable housing in communities that are rich with opportunity.” Some key things to know about the rule are listed below:
Kevin Gillen, Ph.D., Chief Economist
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