Federal Issues
Administration Announces Updates For Housing Supply and Multifamily Housing
August 20, 2023
Late last month, the Biden Administration announced two initiatives to boost the housing supply and offer guidance for multifamily properties. A few of the items outlined in the announcement include the creation of a competitive $85 million grant program to help communities identify barriers to affordable housing production and streamlining financing through the Department of Housing and Urban Development (HUD), allowing larger loans to participate in the department's Low-Income Housing Tax Credit program.
For multifamily housing, the administration reiterated their commitment to proposed rulemaking for renters in project-based rental assistance housing (PBRA) and other public housing programs to finalize existing-HUD policy which requires housing providers to give 30-days' notice for lease termination because of nonpayment of rent. As noted in the announcement, this is already an existing HUD policy. Use this LINK to get more information regarding these updates
About the GRBOR Market Brief
The Greater Rome Board of REALTORS® (GRBOR) Market Brief is compiled by Georgia Multiple Listing Service (GAMLS).For more information on details of this month's report, please contact the Board at 404.845.4025.
*Each month, the numbers reported for the previous month are updated to reflect additional recordings.
About the Greater Rome Board of REALTORS®
The Greater Rome Board of REALTORS® (GRBOR) has been an instrumental factor in the growth of real estate in Floyd County, Georgia for more than a decade. GRBOR serves as a central source of information for its members, with mainly focusing on real estate education, the promotion of professionalism in the industry and representing REALTORS® members with legislative initiatives to create positive change for the real estate community.
About Georgia Multiple Listing Service
Since 1962 Georgia MLS has been providing real estate professionals with exceptional service, proven technology solutions, and unmatched value. With a laser-sharp focus on making the day-to-day tasks of our MLS subscribers more functional, more productive, and more profitable, we continue to implement the service blueprint that has led to our continued growth. For additional information or to start a discussion about how to partner with GAMLS please contact georgiamls@gamls.com.