Biden Administration Pushing National Energy Mandates That Critics Fear Could Make Homes Even Harder To Buy
‘Home costs are going to go up at a time when we cannot afford that,’ one observer tells the Sun. ‘We’ve got to find a way to make homes less expensive, not more expensive.’
The Biden administration is exploring energy efficiency mandates that would apply to millions of new homes backed by Fannie Mae and Freddie Mac, in a move that critics fear could further exacerbate the housing affordability crisis.
“We are undertaking an analysis right now to look at the building code issue,” the director of the Federal Housing Finance Agency, Sandra Thompson, told a Senate Committee in April, adding that the agency should “have some recommendations” coming out by the end of June. When reached by the Sun, a representative of the agency confirmed that it is working to “assess ways to support greater energy efficiency for loans financing newly constructed properties” purchased by Fannie Mae and Freddie Mac, and to “improve resiliency for the mortgage market.”
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