Published On Oct 28, 2024, 12:17 PM
The Biden administration's plan to boost affordable housing through over $35 billion in low-interest loans hasn't materialized effectively, as no loans have been finalized yet. Developers are deterred by high upfront costs and stringent requirements. Resia, a housing developer, found the process too costly despite a potential project that could add 948 affordable units in South Florida.
Negative
The ongoing struggles of the Biden administration to enact their housing plans may negatively impact the housing sector and related ETFs. Potential slowdowns in housing projects could affect housing developers and investors focused in this sector.
Negative
As affordable housing remains a critical issue, companies focused on construction and finance for housing might benefit in the long term if regulations ease. However, immediate sentiment is likely bearish.
Oct 26, 2024, 7:00 AM
Many aspiring homeowners are still sitting on the sidelines even as mortgage rates have declined since this year's peak in May.
Oct 24, 2024, 12:01 PM
Mortgage rates have climbed higher for a month straight, pushing down demand as more Americans become priced out of the housing market due to high rates and home prices.
Oct 23, 2024, 11:19 AM
Sales of existing homes fell in September as house hunters remained on the fence about buying a home despite mortgage rates easing during the month.