May 11, 2023

Recent data from Fannie Mae’s Home Purchase Sentiment Index found that consumers’ belief that mortgage rates will decrease has elevated confidence in the housing market to its highest level in nearly a year. The trend could stem from decelerating inflation, market suggestions that monetary conditions will soon ease, and actual mortgage rate declines during the month.

As states continue to grapple with affordable housing shortages, some are considering “builder’s remedy” laws, which allow developers to sidestep zoning rules when a jurisdiction fails to meet its permitting goals. These laws have caused friction among affluent communities in California and Massachusetts that defy and resist the mandates and, in some cases, have led to lawsuits.

Philadelphia is launching a new community violence program that aims to reduce gun violence and recidivism. The program will provide therapy, employment, and housingassistance to people at risk for gun violence. “We recognize… that housing is a common challenge that people face, and that it’s hard to meet their other needs, if those housing challenges aren’t resolved,” said Joshua Harris, interim director at the Office of Policy and Strategic Initiatives for Criminal Justice and Public Safety.

Mayor Muriel Bowser proposed a new tax incentive program to encourage developers to convert underutilized downtown office buildings into residential units. According to the DowntownDC Business Improvement District’s 2021 report, the city has more than 20 million square feet of unused office space.