Federal Opportunities to Build Housing Supply and Advance Affordable Homeownership

This document is a guide that outlines federal opportunities to enhance housing supply and promote affordable homeownership. It details the challenges facing the housing market, including a significant shortage of homes and rising mortgage rates, which are limiting access to housing for many families. The guide emphasizes the importance of collaboration between public and private sectors to address these issues and proposes several policy reforms aimed at increasing housing affordability and availability. Key recommendations include expanding financing options for rental and for-sale housing, enacting the Affordable Housing Credit Improvement Act to enhance the Low Income Housing Tax Credit program, and supporting Community Development Financial Institutions. The document also discusses the need for sustained support for proven housing programs, leveraging federal incentives to reduce local barriers to housing production, and promoting inter-departmental collaboration to tackle supply challenges. Overall, it presents a comprehensive approach to improving housing conditions and accessibility for low- and moderate-income families.