HUD recently published a notice seeking comments evaluating HUD’s annual collection of information of data on LIHTC sites and tenants. The notice can be found at www.federalregister.gov/d/2022-06282.
After a cooldown early in the pandemic, rental housing demand has come back aggressively in the second year, reducing vacancy rates and driving up rents, according to Harvard’s Joint Center for Housing Studies (JCHS). Its recently released annual “America’s Rental Housing 2022...
The Consolidated Appropriations Act, enacted in late 2020, amended Internal Revenue Code (IRC) Section 42(b) and established a minimum 4 percent credit rate for qualifying LIHTC projects. To qualify for the 4 percent minimum credit rate, a building must be placed in service after Dec. 31, 2020,...
The Federal Housing Finance Agency (FHFA) recently issued a final rule for Fannie Mae and Freddie Mac that establishes the benchmark levels for the multifamily housing goals for 2022. To help meet these goals, Fannie Mae and Freddie Mac, in part, capitalize on opportunities to finance LIHTC...
On Nov. 19, the U.S. House of Representatives passed the Build Back Better Act. The bill passed 220-213 and now goes to the Senate. This $1.7 trillion bill includes an historic expansion of the low-income housing tax credit. According to estimates, the bill could finance nearly 812,000...
The Office of the Comptroller of the Currency (OCC) recently announced it will propose rescinding the Community Reinvestment Act (CRA) rule issued in May 2020. In 2020, the OCC proposed regulations intended to modernize the agencies’ regulations under the CRA, which haven’t been...
Every year, the National Low Income Housing Coalition (NLIHC) puts out its "Out of Reach" report examining the housing wage, the hourly wage a full-time worker must earn to afford a modest, safe rental home without spending more than 30 percent of their income on housing costs. The...
Harvard University’s Joint Center for Housing Studies recently released its annual “State of the Nation’s Housing 2021” report. You can download the report at www.jchs.harvard.edu/state-nations-housing-...
In early June, the U.S. Court of Appeals for the District of Columbia ruled that it would continue to stay a lower court ruling seeking to overturn the CDC eviction moratorium. In the lower court ruling, a federal judge set aside the CDC's nationwide moratorium which expires on June 30, 2021...
The Biden-Harris administration recently announced a set of proposals designed to help narrow the racial wealth gap and reinvest in distressed communities, focusing on expanding access to homeownership and small business ownership. The administration’s announcement provides new information...
On May 5, 2021, a federal judge in the District of Columbia set aside the CDC's nationwide moratorium on residential evictions, which the CDC had recently extended beyond its congressionally approved expiration date of March 31 to June 30, 2021 [Alabama Association of Realtors, et al. v. U.S...
