Zimpfer and Wheeler on Biden’s housing agenda
November 12, 2020
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In today’s Daily Download episode, Mortgage Marketing Radio’s Geoff Zimpfer and HousingWire Editor in Chief Sarah Wheeler discuss what a Biden presidency could mean for housing, as well as what the housing market could look like in 2021.
For some background on the interview, here’s a brief summary of HousingWire’s latest article on Biden’s housing agenda:
As results trickle in following a historic 2020 general election, results seem to be leaning toward a Joe Biden victory, but potentially also a Republican-led Senate. What would the impact of a Biden presidency be on housing?
Gridlock in Washington won’t stop Biden’s administration from attempting to push through sweeping changes into housing, where the former vice president has promised to invest $640 billion over the next 10 years so Americans can have “access to housing that is affordable, stable, safe and healthy, accessible, energy efficient and resilient,” according to his campaign website.
He has pledged to introduce a tax credit for first-time homebuyers of up to $15,000, reintroduce sharper regulatory teeth to agencies such as the Consumer Financial Protection Bureau, alter a spate of restrictive zoning laws to increase development, build millions of units of affordable housing, and cap payments for certain renters. It is also widely believed a Biden administration would keep the GSEs under conservatorship.
Regardless of who’s in the White House, observers from across the housing and mortgage industries believe interest rates will continue to hover near historic lows for the next several years and volumes will remain high, largely due to economic realities: there simply isn’t enough inventory and the economy is too fragile for rates to increase.
The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.
HousingWire articles covered in this episode:
