The Department of Housing and Urban Development announced a new program to help remedy the nation’s housing supply shortage by boosting affordable housing. HUD’s “Our Way Home” initiative sets out to increase housing supply by helping local communities preserve and add affordable housing in their area for rentals and homeownership. This may include several initiatives, like advocating for zoning changes, holding roundtables to engage local and state leadership for solutions, and more.

“The shortage of affordable housing has been growing for decades—but this is a solvable crisis,” Marcia L. Fudge, HUD’s secretary, said in the “Our Way Home” initiative announcement. “Across the country, we are seeing many communities ending exclusionary zoning, building affordable housing in communities that previously did not allow it. We are seeing communities use innovative building models and materials, and design homes that are sustainable and resilient. And we’re seeing communities tackle homelessness by building permanent affordable housing with services. These are the types of community wins that we want to elevate with ‘Our Way Home’ and encourage others to follow.”

Source: National Association of REALTORS® and HUD.gov