NY
Times - The 21st Century ROAD
to Housing Act, the first major housing package to become law in decades — and
passed with impressive bipartisan support — has the potential to put a real
dent in the nation’s affordable housing shortage.
The good news is that if carried
out as intended, the law will break through a lot of the regulatory sludge
holding back the construction industry. It will create a mix of financing and
building incentives that will help the nation close the supply gap that has
contributed to rising rents and put homeownership out of reach for many people.
The bad news is that President
Trump let the act become law without his signature, calling it “a yawn” — not a
great sign that his administration will dedicate the considerable resources
needed to put it into effect.
Most of that work will fall to
the Department of Housing and Urban Development, which has to establish an
array of pilot programs, reports and other acts of rule-making and industry
guidance the law calls for. After last year’s purge of agency staff members,
however, HUD is down about 30 percent of its work force in many of its key
offices.