MBA Statement on the Biden Administration's Housing Supply Action Plan
MBA's President and CEO Bob Broeksmit, CMB, released the following statement on the Biden administration's announcement today of its Housing Supply Action Plan to increase affordable housing for prospective homeowners and renters:
"MBA commends the Biden administration for announcing steps to alleviate the acute shortage of single-family and multifamily housing for prospective homebuyers and renters.
"Eliminating the regulatory barriers to new construction, including manufactured housing, in underserved markets; expanding affordable financing for multifamily development and rehab projects; and a commitment to more private and public sector partnerships will help address the housing supply and affordability challenges that continue to burden families.
“As the administration focuses on ways to improve the financing of multifamily projects, MBA strongly encourages HUD to focus on the issues that continue to lead to significant lending pipeline delays in its MAP program, which is a primary financing option for producing more affordable rental housing.
"MBA will examine all aspects of the plan in greater detail and remains committed to working with the administration, Congress, and industry stakeholders on safe and responsible policies that increase homeownership opportunities and affordable rental housing options across America, especially for minority and low- and moderate-income households.”