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Good and Bad Housing Provisions in $3.5 Trillion Reconciliation Plan

Good and Bad Housing Provisions in $3.5 Trillion Reconciliation Plan

House Democrats are working to draft a $3.5 trillion Build Back Better plan that includes onerous tax hikes of $2 trillion and aggressive energy efficiency requirements in model building energy codes that would harm housing affordability. This ambitious plan also contains several other elements of interest to the housing community.

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Biden Nominates Alanna McCargo as President of Ginnie Mae

Filed in Advocacy, Housing Finance by on September 15, 2021 0 Comments
Biden Nominates Alanna McCargo as President of Ginnie Mae

The Biden administration has announced it intends to nominate senior HUD official Alanna McCargo to be president of Ginnie Mae.

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FHFA, Treasury Suspending Certain Portions of 2021 Preferred Stock Purchase Agreements

Filed in Advocacy, Housing Finance by on September 14, 2021 0 Comments
FHFA, Treasury Suspending Certain Portions of 2021 Preferred Stock Purchase Agreements

The Federal Housing Finance Agency (FHFA) and the U.S. Department of the Treasury (Treasury) announced today they are suspending certain policy provisions added in January 2021 to the Preferred Stock Purchase Agreements (PSPAs) that govern Treasury’s support for Fannie Mae and Freddie Mac (the Enterprises).

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NAHB Opposes House Democrats’ Plan for $2 Trillion in New Taxes

Filed in Advocacy, Housing Affordability, Tax Reform by on September 14, 2021 5 Comments
NAHB Opposes House Democrats’ Plan for $2 Trillion in New Taxes

NAHB is sounding the alarm to lawmakers as House Democrats within the Ways and Means Committee begin consideration of a massive overhaul of the tax code which would generate over $2 trillion in additional tax revenue over the next 10 years.

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NAHB Opposes Energy Codes Provision in Build Back Better Act

Filed in Advocacy, Codes and Standards, Housing Affordability by on September 13, 2021 1 Comment
NAHB Opposes Energy Codes Provision in Build Back Better Act

NAHB has sent a letter to House Energy Committee Chairman Frank Pallone (D-N.J.) and its members expressing strong opposition to a provision in the Build Back Better Act calling for aggressive energy efficiency requirements in model building energy codes.

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Proposed Changes to Partnership Tax Rules Would Raise $172 Billion

Filed in Tax Reform by on September 10, 2021 2 Comments
Proposed Changes to Partnership Tax Rules Would Raise $172 Billion

Senate Finance Committee Chairman Ron Wyden (D-Ore.) released the outline of a bill that would significantly alter the tax rules for partnerships.

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Building Material Prices: Large Increases Year to Date

Filed in Economics, Material Costs, Trends by on September 9, 2021 10 Comments
Building Material Prices: Large Increases Year to Date

Although the recent drop in softwood lumber prices since mid-May is helping bring costs down (after having driven them up drastically earlier in the year), the decline has been offset by large increases in the prices of several other building material products.

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FHFA Announces Equitable Housing Finance Plans for Fannie Mae, Freddie Mac

Filed in Advocacy, Housing Finance by on September 7, 2021 0 Comments
FHFA Announces Equitable Housing Finance Plans for Fannie Mae, Freddie Mac

The Federal Housing Finance Agency today announced that Fannie Mae and Freddie Mac will submit Equitable Housing Finance Plans to FHFA by the end of 2021. The plans will identify and address barriers to sustainable housing opportunities, including the Enterprises’ goals and action plans to advance equity in housing finance for the next three years.

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Supreme Court Strikes Down CDC Eviction Moratorium

Filed in Disaster Response, Legal, Multifamily by on August 27, 2021 0 Comments
Supreme Court Strikes Down CDC Eviction Moratorium

The U.S. Supreme Court issued a 6-3 decision last night that said it was unlawful for the Centers for Disease Control and Prevention (CDC) to unilaterally extend its eviction moratorium through Oct. 3, 2021.

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Treasury Announces 7 Steps to Expedite Emergency Rental Assistance

Filed in Advocacy, Housing Affordability, Multifamily by on August 25, 2021 16 Comments
Treasury Announces 7 Steps to Expedite Emergency Rental Assistance

Congress has appropriated $46.5 billion for emergency rental assistance but state and local governments have only distributed less than $6 billion to date. These guidelines announced by Treasury are designed to streamline the application process and make it easier for renters and landlords to get help.

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