America’s housing affordability crisis affects both renters and homebuyers. Creating a larger stock of housing, lowering the cost of new housing developments, requiring financial institutions to extend credit to low- and moderate-income households and addressing the legacies of discriminatory federal housing policies are all needed to fix this problem.
This legislation is going to be extremely expensive and it’s not clear that it’ll work as intended. Using grants to incentivize zoning law changes, gentrification, and actually hurting the communities that this bill attempts to help. Some also argue it’s essentially reparations — which are incredibly divisive as an idea — without that label.