HUD Announces Regulatory Reforms to Lower Housing Costs
The Department of Housing and Urban Development announced new regulatory actions designed to reduce administrative barriers and lower housing costs as part of the administration’s deregulatory agenda, the agency said Sept. 11. The actions include streamlining federal review processes for housing development on land subject to federal oversight, reducing duplicative environmental and safety review timelines, and expanding flexibility for local housing authorities, according to HUD. The announcements represent HUD’s contribution to a broader administration-wide effort to address the national housing affordability crisis. Median home prices have exceeded $400,000 nationally, and mortgage rates above 6% have made homeownership unattainable for millions