Responding to recent housing industry analyst reports that criticized a decline in the construction of affordable, quality rental housing across the country, the Federal Housing Administration (FHA) last week announced a multifamily insurance rate reduction.
- Last week the Federal Housing Administration (FHA) announced a multifamily insurance rate reduction to incentivize the development and renovation of quality affordable housing.
- The decision comes in response to housing industry reports criticizing the lack of affordable units combined with rising rent prices across the country.
- The rate reductions are expected to spur the rehabilitation of 12,000 units nationally and benefit 40,000 families over the next three years.
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