{"id":2340,"date":"2021-07-12T16:28:42","date_gmt":"2021-07-12T16:28:42","guid":{"rendered":"https:\/\/preprod.realtrends.com\/blog\/2021\/07\/12\/biden-renews-push-for-housing-in-infrastructure-plan\/"},"modified":"2025-03-13T02:38:12","modified_gmt":"2025-03-13T02:38:12","slug":"biden-renews-push-for-housing-in-infrastructure-plan","status":"publish","type":"post","link":"https:\/\/preprod.realtrends.com\/blog\/2021\/07\/12\/biden-renews-push-for-housing-in-infrastructure-plan\/","title":{"rendered":"Biden renews push for housing in infrastructure plan"},"content":{"rendered":"\n<p>Housing has returned to center stage in the Biden administration\u2019s push for an additional <a href=\"https:\/\/preprod.housingwire.com\/articles\/what-bidens-infrastructure-plan-does-for-housing\/\" target=\"_blank\" rel=\"noreferrer noopener\">infrastructure plan<\/a>.<\/p>\n\n\n\n<p>President Joe Biden said this week that he planned to make an \u201chistoric investment\u201d in affordable housing, by <a href=\"https:\/\/preprod.housingwire.com\/articles\/a-look-at-bidens-first-100-days-and-his-impact-on-housing\/\" target=\"_blank\" rel=\"noreferrer noopener\">building and rehabilitating<\/a> more than two million homes.<\/p>\n\n\n\n<p>\u201cWe need to deal with the <a href=\"https:\/\/preprod.housingwire.com\/podcast\/these-initiatives-could-support-affordable-housing\/\" target=\"_blank\" rel=\"noreferrer noopener\">shortage of affordable housing<\/a> in America,\u201d said Biden. \u201cOver 10 million renters in this country pay more than half their income for the rent on their apartment, and the lack of affordable housing prevents people from moving to communities where there are more opportunities.\u201d<\/p>\n\n\n\n<p>His commitment to include housing as part of an additional infrastructure package was welcomed by California Democratic Congresswoman Maxine Waters, who chairs the House Financial Services Committee. In a statement, Waters said her \u201cnumber one priority\u201d has been to ensure that Biden includes funding for housing in an infrastructure plan.<\/p>\n\n\n\n<p>\u201cThe President assured me that housing would be included in reconciliation,\u201d Waters wrote. \u201cTo be clear, as housing costs skyrocket, communities across the country \u2014 including rural, suburban, and urban America \u2014 need affordable housing now more than ever. To say that the pandemic destabilized an already unstable housing market is an understatement.\u201d<\/p>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-background has-vivid-red-background-color has-vivid-red-color\"\/>\n\n\n\n<p class=\"has-text-align-center\"><a href=\"https:\/\/preprod.housingwire.com\/articles\/how-lenders-can-attract-the-next-generation-of-homebuyers\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>How lenders can attract the next generation of homebuyers<\/strong><\/a><\/p>\n\n\n\n<p class=\"has-text-align-center\">In today\u2019s housing market, lenders need to make sure they\u2019re staying competitive. One way to do that is by offering a digital lending process\u2019 that attracts borrowers across all generations, regardless of their credit score and finances.<\/p>\n\n\n\n<h6 class=\"has-text-align-center wp-block-heading\" id=\"h-presented-by-equifax\"><strong>Presented by: Equifax<\/strong><\/h6>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-background has-vivid-red-background-color has-vivid-red-color\"\/>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>The reappearance of housing in Biden&#8217;s infrastructure plan comes as the supply of housing has dwindled to historic lows.<\/p>\n\n\n\n<p>The <strong>National Association of Realtors<\/strong>, which represents real estate agents, said that there is a<a href=\"https:\/\/preprod.housingwire.com\/articles\/us-housing-market-is-short-5-5-million-homes-nar-says\/\" target=\"_blank\" rel=\"noreferrer noopener\"> cumulative demand-supply gap<\/a> of 6.8 million homes. The loss of existing units \u2014 through demolition, natural disaster or functional obsolescence \u2014 has contributed to the shortfall, along with the underproduction of new housing units.<\/p>\n\n\n\n<p>But even with the President\u2019s insistence that housing be part of an infrastructure package, it is unclear if it could garner the necessary support from enough centrist Democrats. Democrats hold only a tenuous majority, with Vice President Kamala Harris casting the 51st vote. That leaves little room for internal quarrels.<\/p>\n\n\n\n<p>Biden has said that he <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/speeches-remarks\/2021\/06\/24\/remarks-by-president-biden-on-the-bipartisan-infrastructure-deal\/\" target=\"_blank\" rel=\"noreferrer noopener\">would not sign<\/a> the first infrastructure plan if the second infrastructure package did not also reach his desk. Some Republicans viewed that as negotiating in bad faith, and Biden later clarified he <a href=\"https:\/\/www.reuters.com\/world\/us\/biden-up-pressure-lawmakers-infrastructure-talks-enter-next-stage-2021-06-26\/\" target=\"_blank\" rel=\"noreferrer noopener\">did not intend<\/a> his remarks as a veto threat. The exchange revealed the fragile nature of negotiations for both packages.<\/p>\n\n\n\n<p>In June, Biden announced that he had secured <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2021\/06\/24\/fact-sheet-president-biden-announces-support-for-the-bipartisan-infrastructure-framework\/\" target=\"_blank\" rel=\"noreferrer noopener\">bipartisan support<\/a> for a limited $1.2 trillion infrastructure deal. Housing and eldercare appeared nowhere in the whittled-down agreement, which was a fraction of his initial $2.3 trillion American Jobs Plan proposal.<\/p>\n\n\n\n<p>Instead, the plan focused on traditional infrastructure improvements, such as expanding transit and rail, rebuilding roads, expanding electric vehicle charging stations, modernizing water infrastructure and preparing for the impacts of climate change.<\/p>\n\n\n\n<p>Democrats in Congress have said they plan to pass an infrastructure package with many of Biden\u2019s original proposals through a process called reconciliation. The abbreviated process allows Congress to enact legislation on taxes, spending, and the debt limit with only a simple majority.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden said this week that he planned to make an \u201chistoric investment\u201d in affordable housing, by building and rehabilitating more than two million homes.<\/p>\n","protected":false},"author":18862,"featured_media":4822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3255],"tags":[],"coauthors":[843],"class_list":["post-2340","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.4 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Biden renews push for housing in infrastructure plan - 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