Articles from National Multifamily Housing Council (NMHC)

NMHC is pleased to hear that the Federal Housing Finance Agency (FHFA) is authorizing each GSE to annually purchase up to $2 billion in Tax Credit Equity, an increase from their current $1 billion limit, for a combined increase of $2 billion. This significant move will improve housing affordability and expand housing opportunities for those most in need. NMHC appreciates the Trump Administration’s commitment to lowering housing costs by expanding housing supply.

NMHC urges lawmakers at all levels of government to enact policies and programs that will expand housing supply, which experts agree is the solution to broadening housing opportunity and making housing more affordable. We applaud efforts such as the Biden Administration’s Housing Supply Action Plan that demonstrates a focus on increasing housing supply, including support for expansion of the Low-Income Housing Tax Credit and the newly announced additional Federal investments in increasing housing supply.

Eighteen associations representing housing providers, lenders and residents today sent a letter to Federal Housing Finance Agency (FHFA) Director Sandra Thompson warning that mandatory rent control and rent stabilization policies will increase rents, reduce the capital needed to boost the supply of housing, and ultimately hurt current and future renters.

NMHC members believe that transparency in the cost of rental housing is positive for renters and housing providers alike. While we support the voluntary initiatives included in the White House’s announcement today, we strongly disagree with the characterization that rental housing residents are pervasively being taken advantage of by housing providers. We are aware of no credible evidence to support this assumption.

The pandemic influenced 25% of renter moves over the past 18 months, and 70% of renters anticipate teleworking the same amount or more going forward, according to data from the National Multifamily Housing Council (NMHC) and Grace Hill 2022 Renter Preferences Survey Report.

A new National Multifamily Housing Council (NMHC) survey of apartment owners and managers shows that 100 percent of multifamily firms surveyed worked with residents facing financial hardships since the onset of the COVID-19 crisis. The new data come as the $4 trillion of economic relief (including nearly $47 billion in rental assistance) has stabilized the rental market, allowing the federal eviction moratorium to end on July 31.