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September 25, 2024
The Costs of Inaction: Economic Risks from Housing Unaffordability
Chairman Whitehouse, Ranking Member Grassley, and committee members, thank you for the opportunity to testify on this most important topic. History offers a cautionary tale against inappropriate federal action in the housing market: From the 1930s to 2008, Congress passed and presidents signed into law at least 43 housing, urban renewal, and community development programs. Despite their lofty…
September 23, 2024
The Kamala Harris Plan for More Housing Shortages
A signature feature of Kamala Harris’s housing plan is providing first-time home buyers with $25,000 in down-payment support, at a total cost of $100 billion over four years. Absent a severe recession, this policy is all but certain to lead to higher home prices. That’s because the four million program recipients would become price setters for…
September 11, 2024
As America’s housing crisis intensifies, the American Housing and Economic Mobility Act of 2024 has emerged as a high-profile yet expensive solution.
The bill comes with a $500 billion price tag and endorsements from leading Democrats, including Vice President Kamala Harris. Moody’s, a major financial services company, has also blessed the act, predicting it will lower rents and significantly boost the supply of affordable housing. But before the country embraces this rosy outlook, it must confront a stark reality: Government interventions in housing…
September 4, 2024
Kamala Harris’s Housing Plan Would Be Worse Than Doing Nothing
Originally appeared in Newsweek On August 16, presidential candidate Kamala Harris unveiled a series of housing proposals that recycle the same failed strategies that have plagued federal housing policy for decades. Among the key components are subsidies for the construction of 3 million new housing units over four years, as well as a total of $100 billion…
May 7, 2024
How Zoning Policies Affect the Housing Supply: City of Denver Case Study
Summary:The City of Denver switched to a new zoning code in June 2010. Most areas were upzoned, but some were downzoned. Overall, the policy encouraged housing construction in Denver. Slide deck
May 6, 2024
Comments on the One Seattle Plan (Comp Plan)
Summary:1) Seattle has been underbuilding for the last decade (and likely even longer) and it needs to build more housing than the targets set in the comp plan.2) Seattle can legalize the building of more housing by embracing the lessons of its past and expanding on them. During the 1990s, Seattle upzoned parts of the…
March 27, 2024
Market-oriented Reform Principles and Policies that Would Help the Housing Market
Introduction: In this election year, Congress and the President are feeling the urge to help Americans affected by rising housing affordability pressures across the country. With the status-quo untenable, Congress and the President are itching to address housing affordability, availability, and other community needs. Before springing into action, our leaders need to first establish clear…
March 8, 2024
State of the Union – Biden’s Housing Proposals Would be Harmful, Not Helpful
President Biden in his State of the Union pitched a raft of proposals with the stated purpose of lowering costs for homebuyers and increasing the supply of rental units. As has been the case with dozens of housing acts passed by Congress over the last 75 years, hold onto your wallet when the federal government says it…
February 22, 2024
The Workforce/Middle-Income Housing Tax Credit
A recording of the event will be uploaded soon. Event Summary Congress is considering expanding the Low-Income Housing Tax Credit (LIHTC) and creating a new Workforce or Middle-Income Housing Tax Credit (MIHTC). In response, the AEI Housing Center gathered leading housing experts to discuss the LIHTC’s poor record and propose more effective market solutions. In…
January 17, 2024
Congress, Don’t Legislate a Takeover of the Nation’s Rental Housing Market
It is an election year and Congress will soon consider two bipartisan bills to address high rental costs for many renters. The first is the Workforce Housing Tax Credit (WFHTC) and the second would be an expansion of the existing Low-Income Housing Tax Credit (LIHTC). The WFHTC would extend eligibility for subsidized units tenants earning below the area median….