1. White House announces funding opportunity to address unsheltered homelessness
HUD: The Biden Administration has released a first-of-its-kind package of resources to address unsheltered homelessness and homeless encampments, including funds set aside specifically to address homelessness in rural communities.
The $365M package includes grant funds along with additional vouchers that will enhance communities’ capacity to address unsheltered homelessness by connecting vulnerable individuals and families to housing, health care, and supportive services. This Initiative for Unsheltered and Rural Homelessness being made available by HUD strongly promotes partnerships with health care organizations, public housing authorities, and mainstream housing providers, and people with lived experience and expertise of homelessness.
2. HUD, Biden Administration announce $520M in new grants to tackle lead in homes
Spectrum News: Vice President Harris and HUD Secretary Fudge announced new funding to remedy lead in homes last week. The new $520M will be available via grants to state and local governments to remove lead paint from homes and address other home health hazards, directing officials to focus on underserved communities.
According to the White House, up to 10M American households and 400,000 schools and child care centers are served by a lead service line or other lead mechanisms. And about 24M homes have “significant” lead-based paint risk, including 4M homes to young children.
In a press release, HUD called the new funds “The largest lead and healthy homes funding ever made available by HUD to jurisdictions to improve the health and safety of housing in communities around the country.” Read HUD’s Notice of Funding Opportunity (NOFO) here.
3. The Fed plans to ‘reset’ the housing market – raising the likelihood of falling home prices
It’s not just about how expensive housing became—it’s how fast it got there. It only took 24 months for U.S. home prices to soar a staggering 37%. For comparison, the biggest two-year spike leading into the 2008 housing crash was 29%. – CLICK HERE FOR FULL STORY
4. Sales of existing homes fell in May, and more declines are expected
Sales of existing homes in May dropped 3.4% to a seasonally adjusted annualized rate of 5.41 million units, according to the National Association of Realtors. – CLICK HERE FOR FULL STORY