Democratic lawmakers from the Home and Senate pressed President Biden to decrease housing prices earlier than he leaves the White Home in a letter dated Wednesday.
“We write today to thank you for your historic work to expand tenant protections and lower the cost of housing and to encourage you to take further action before your term ends,” the letter reads.
“Under your leadership, the Biden-Harris Administration has taken important steps to protect renters from predatory corporate landlords and to make home purchases and refinancing more affordable,” continues the letter, first reported by HuffPost. “But there is even more that can be done using executive agencies’ existing statutory authority. We offer the following recommendations to address the high cost of housing felt by millions of Americans.”
Greater than 30 Democrats signed the letter, together with key progressives like Sens. Elizabeth Warren (Mass.) and Ed Markey (Mass.) and Reps. Jamaal Bowman (N.Y.), Alexandria Ocasio-Cortez (N.Y.), Barbara Lee (Calif.), Katie Porter (Calif.), Pramila Jayapal (Wash.) and Rashida Tlaib (Mich.). Sen. Bernie Sanders (I-Vt.), additionally signed on to the letter.
Within the letter, the lawmakers advisable measures “to reduce housing costs for American families,” together with “Tackling Junk Fees,” “Lowering Credit Report Costs” and “Promoting Housing Development on Federal Property.”
“Housing costs continue to be the largest budget item for many American households each month, burdening renters and making homeownership unaffordable for too many,” the letter stated.
A second-quarter evaluation launched in July discovered bills on median-priced properties at 35.1 % of the typical nationwide wage — a excessive not seen since 2007.
In August, the Biden administration unveiled a $100 million funding focusing on boundaries to inexpensive housing development, with funds set to be made out there by the Pathways to Eradicating Obstacles to Housing program that provides grants to state and native governments, alongside different entities, as a part of a wider try “to identify and remove barriers to affordable housing production and preservation.”
The Hill has reached out to the White Home.
