Items Tagged with 'Affordable housing'


Affordable housing groups say Trump budget would be catastrophic

Claim it takes policy in the wrong direction
Affordable housing advocates are taking a stand against President Donald Trump’s budget proposal which includes cutting several HUD housing programs. While the Treasury and even HUD itself spoke out in favor of the new budget proposal, one affordable housing advocate insists the budget would be catastrophic.
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New York unveils $20 billion plan to fight homelessness, boost affordable housing

First phase includes $2.5 billion for new construction, development
New York is taking homelessness and the state’s lack of affordable housing head-on with an ambitious new program announced Thursday by the state’s governor, Andrew Cuomo. According to Cuomo’s office, the state is launching a $20 billion, five-year plan to combat homelessness and advance the construction of affordable housing throughout the state.
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Louisiana Senate passes bill to stop affordable housing mandates

Encourages voluntary negotiations instead
The Louisiana Senate just passed a bill that would ban local governments from requiring developers to create affordable housing sectors. The creator of the bill explained that instead, it encourages voluntary negotiations between developers and cities to create affordable housing in exchange for incentives such as tax breaks or zoning variances.
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Monday Morning Cup of Coffee: Impact of GOP healthcare bill on finance market

Lawsuits continue to pile up at Wells Fargo
Billionaire Warren Buffet explained what GOP’s healthcare bill could mean for business owners, saying it could have an even greater impact on the economy than Trump’s proposed corporate tax cut. Also, D.C. is forfeiting millions of dollars for affordable housing because it can’t meet its deadlines, so there’s that. And speaking of losing millions of dollars, here’s the latest in the Wells Fargo fake accounts scandal.
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Is the current political environment too risky to open affordable housing discussion?

MBA Secondary panelists explain risks
During a panel at MBA secondary in New York City, panelists explained the risks of putting topics such as affordable housing reform through the legislative process during the current political environment. One panelist explained affordable housing reform stands to lose more than it would gain, and that new legislation may not be the best path forward.
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Affordable housing-focused originator joins Walker & Dunlop

Matt Naish will work with Fannie Mae, Freddie Mac and HUD to originate multifamily loans
Before joining W&D, Naish served as the director of affordable housing finance at Berkeley Point Capital and has previously held multiple roles with HUD, where he became an expert in affordable housing policy and FHA multifamily products.
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New York budget to target homelessness, affordable housing

Dedicates $2.5 billion in funds
New York announced its budget late after it surpassed its April 1 deadline. The newly released budget contains many implications for housing, including tuition-free college. A considerable part of the budget is also dedicated toward fighting homelessness and providing affordable housing.
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From HW Magazine

Cutting housing off at the knees

Cuts to HUD budget are short-sighted at best
Programs that create homeowners just by helping with down-payment amounts are the lowest-hanging fruit in our industry. These are people with jobs and qualifying income who just need a one-time lift from the government. But that one-time lift is not just beneficial to the new homeowners — the overall housing economy benefits as well, since homeownership begets more homeownership. 
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What Trump’s tax cuts mean for affordable housing deals

Housing tax credits can determine if projects get off the ground
One of President Donald Trump’s priorities, tax reform, could threaten the affordable housing industry as fewer investors may be enticed to fund projects. Developers said investors are valuing the tax credit 10% to 20% lower since Election Day. The reduction in the credit’s value is already likely to cause a drop of about $1 billion in equity investment for the year.
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