Sec. 2. Findings
201 words·~1 min read·
/bill/116/hr/4956/ih/section-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Congress finds the following: Communities across the country are facing an affordable housing crisis. Families who pay more than 30 percent of their income for housing are considered cost burdened and may have difficulty affording necessities such as food, clothing, transportation, and medical care. The Department of Housing and Urban Development estimates 12,000,000 renter and homeowner households now pay more than 50 percent of their annual incomes for housing. The prohibitive cost of housing slows economic growth and means fewer jobs and lower wages.
Housing demand depends on local demographics, job markets, and place-based amenities. Housing supply depends on local availability of land and the cost and complexity of housing development. Land-use restrictions are a significant factor in housing supply and prices. There is evidence that exclusionary and restrictive zoning raises housing prices and restricts the supply of housing across the country. Housing markets are local. Exclusionary and restrictive zoning policies that affect development are adopted by local governments.
The Federal Government has limited control over State and local land-use policy and zoning. To understand and correct housing shortages, Federal, State, and local governments need to look at all options. Housing is critical for health, economic stability, and academic success.