Trump admin wants to spur affordable housing by easing local building restrictions

The council will first conduct a study on the effect regulations have on the housing market and the economy

National /
Jun.June 26, 2019 09:25 AM
U.S. Department of Housing and Urban Development secretary Ben Carson and President Donald Trump (Credit: Getty Images and iStock)

U.S. Department of Housing and Urban Development secretary Ben Carson and President Donald Trump (Credit: Getty Images and iStock)

President Donald Trump wants to give a boost to affordable housing development by easing or nixing restrictive construction rules at the local government level.

The president on Tuesday signed an executive order creating the White House Council on Eliminating Barriers to Affordable Housing Development, the Wall Street Journal reported. The council will also look at ways to enact a possible roll-back of federal housing regulations that stifle housing development.

“These are things that can be solved,” Ben Carson, secretary of the U.S. Department of Housing and Urban Development, told WSJ. “A lot of [these rules] have been on the books for excessive amounts of time. They’re not particularly relevant anymore.”

A Harvard study released Tuesday found that housing construction is not keeping apace with population growth and an aging housing supply. A 260,000-home deficit in 2018 is driving up prices, with the median home price to median household income rising to 4.1 in 2018, according to the report.

For the last five decades local zoning and land-use regulations have grown, particularly in expensive cities and Northeast and California suburbs. Residents and advocacy groups have supported such measures, including requirements that developers address issues regarding road, school and sewer capacity.

The council will first conduct a study to understand the effect of regulations on the housing market and the economy.

Carson will chair the council, which will have members from eight federal agencies, including the Treasury Department, the Labor Department, the Environmental Protection Agency and the Agriculture Department.

As HUD secretary, Carson has had a strong focus on spurring private sector housing development. But critics say in doing so he’s neglecting his obligation to the Fair Housing Act. [WSJ] — Georgia Kromrei


Related Articles

arrow_forward_ios
Allen Weisselberg and Manhattan District Attorney Cy Vance (Getty)
Feds subpoena Trump CFO’s personal bank records
Feds subpoena Trump CFO’s personal bank records
Jenna Ryan (Twitter.com/DotJenna)
Broker who stormed Capitol apologizes as she is charged
Broker who stormed Capitol apologizes as she is charged
Donald Trump and Rosemary Vrablic (Getty/Illustration by Kevin Rebong for The Real Deal)
Real estate deal prompted resignation of Trump’s longtime banker
Real estate deal prompted resignation of Trump’s longtime banker
Atlantic City Mayor Marty Small supports Carl Icahn, who owns Trump Plaza Casino. (Getty, Marty Small via Instagram)
Carl Icahn pulls plug on auction to demolish Trump casino
Carl Icahn pulls plug on auction to demolish Trump casino
Robert Zangrillo and Rick Renzi with Donald Trump (Getty)
Trump pardons Zangrillo, Jemal, other real estate figures
Trump pardons Zangrillo, Jemal, other real estate figures
House republicans Kevin McCarthy, Blaine Luetkemeyer and Steve Scalise have all received more than $100,000 from real estate PAC donations. (Getty)
Real estate trade groups reconsider donations after Capitol unrest
Real estate trade groups reconsider donations after Capitol unrest
Airbnb Brain Chesky and President-elect Joe Biden (Getty)
Airbnb cancels all DC-area bookings for inauguration week
Airbnb cancels all DC-area bookings for inauguration week
Walmart suspends political contributions to GOP lawmakers who opposed President-elect Joe Biden’s election certification (iStock; Getty)
Walmart cuts off cash to pols who opposed election certification
Walmart cuts off cash to pols who opposed election certification
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...