Search Results for keywords:"housing affordability"

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Search Results: keywords:"housing affordability"

  • Type:Notice
    Citation:89 FR 106551
    Reading Time:about 8 minutes

    The Department of Housing and Urban Development (HUD) is seeking public input on how to better enhance the resilience of residential properties to natural hazards and extreme weather. Rising property insurance premiums and reductions in coverage are causing challenges for homeowners and housing providers, affecting affordability and availability of housing. HUD wants to develop policies that boost property resilience and ensure access to affordable insurance. The request for information focuses on potential financial savings, effective resilience measures, and specific challenges faced by different housing sectors and communities, including Tribal and manufactured housing.

    Simple Explanation

    HUD is asking people for ideas on how to make homes stronger against wild weather and disasters because insurance is getting more expensive and harder to get. They want to know the best ways to keep homes safe and how to make sure everyone can afford insurance.

  • Type:Notice
    Citation:89 FR 99893
    Reading Time:about 10 minutes

    The Department of Housing and Urban Development (HUD) has issued a notice for new operating cost adjustment factors (OCAFs) that will be used to update rent for certain multifamily housing projects with section 8 contracts, effective from February 11, 2025. These factors help adjust rents by considering changes in operating costs like electricity, wages, and insurance. HUD is also asking the public for input on changes to the OCAF calculation method, like using state-level insurance data, which aims to better reflect recent increases in property insurance costs. Public comments must be submitted by January 10, 2025, through designated electronic or mail methods.

    Simple Explanation

    The government wants to make sure people living in certain apartment buildings pay the right rent, so they are changing how they figure out those rents, starting in 2025. They are using new ways to check costs like insurance and asking people for ideas on how to do it better.