5 min. read by Jason Gelios
Now that Joe Biden has been certified, many people have asked me what is his plan for housing. In this article I will share with you his wish list of what he would like to do.
Expand Affordable Housing
Biden wants to put 100 billion dollars into affordable housing which means grants for builders and programs to bring more awareness to the shortage of affordable housing.
Expand Section 8 availability
Did you know that only 1 in 5 are eligible for the Section 8 program? About 2 million households currently receive section 8 assistance. This is an area Biden wants to expand and maybe even loosen the guidelines for qualifications.
Higher focus on Fair Housing Rules
It's no surprise that this area has gained traction due to the recent events. Biden wants to implement harsher penalties for discriminatory acts towards people of race, religion etc. Overall, the real estate industry has been focused on this topic.
Wants to instill The Home Act
The Home Act would provide a refundable tax credit to people who spend more than 30% of income on their rent or housing. Biden also wants to knock out unfair property appraisals in low income areas. No specifics were released on just how to accomplish this but it is his plan.
With the COVID crisis going on it may be some time before this even becomes something that is on the table to pursue. At this time it is merely a wish list.
Jason Gelios is a Husband and Father. After that, a Top Producing REALTOR®, Author of the book Think like a REALTOR®, Creator of The AskJasonGelios Real Estate Show and an Expert Media contributor.