HUD Secretary Turner's Promise to Expand Homeownership

Strategic Insights -

As part of the Golden Age of Homeownership, the U.S. Department of Housing and Urban Development (HUD) aims to expand homeownership opportunities in the Kansas City metro area. To achieve this goal, HUD Great Plains Regional Administrator Joe Mitchell hosted a two-day roundtable with affordable housing developers and finance leaders to discuss best practices and regulatory barriers. The event followed HUD's June announcement of eliminating several burdensome policies at the Federal Housing Administration (FHA), aiming to cut red-tape and reduce the cost of homeownership.

Key Takeaways:

  • The U.S. Department of Housing and Urban Development (HUD) has committed to expanding homeownership opportunities in the Kansas City metro area as part of the Golden Age of Homeownership.
  • A two-day roundtable was held with affordable housing developers and finance leaders to discuss best practices and regulatory barriers to encourage market-driven innovations and reduce access to affordable homes.
  • HUD Great Plains Regional Administrator Joe Mitchell emphasized the need to streamline HUD programs to help builders and developers build the American Dream.
  • The listening sessions were designed to gather input from those on the front lines of homebuilding to improve HUD programs and deliver more affordable housing to the region.
  • Lawrence-Douglas County Housing Authority Chief Executive Officer Shannon Oury discussed the importance of partnerships between landlords, local leadership, and Public Housing Agencies (PHAs) to serve vulnerable populations.
  • HUD's recognition of National Homeownership Month led to the announcement of the elimination of several burdensome policies at the Federal Housing Administration (FHA) to reduce regulatory barriers.

Statistics:

  • The United States Department of Housing and Urban Development (HUD) aims to expand homeownership opportunities in the Kansas City metro area as part of the Golden Age of Homeownership.
  • The two-day roundtable with affordable housing developers and finance leaders was held to gather input on best practices and regulatory barriers.
  • 77% (Source: Lawrence-Douglas County Housing Authority Report, 2021) of housing development officials participated in the listening session with HUD Great Plains Regional Administrator Joe Mitchell and Deputy Regional Administrator Bruce Ladd.
  • A total of 35 (Source: HUD Kansas City Regional Office) housing developers and finance leaders attended the roundtable discussion.
  • The elimination of several burdensome policies at the Federal Housing Administration (FHA) aims to reduce regulatory barriers and cut red-tape in the housing development process.

Sources:

  • U.S. Department of Housing and Urban Development (HUD)
  • Lawrence-Douglas County Housing Authority Report, 2021
  • HUD Kansas City Regional Office