June is National Homeownership Month, and to commemorate this year’s efforts, HUD has announced the launch of a new initiative aimed at increasing affordable housing supply in local communities.
Dubbed “Our Way Home,” the national initiative that uplifts the unique housing supply successes in local communities and connects cities, counties, Tribal communities, states, and U.S. Territories, along with the resources needed to help preserve and produce affordable housing in their area.
“Easing the burden of housing costs for families is a top economic priority for this Administration,” said HUD Secretary Marcia Fudge. “For too long and in too many communities, housing supply has not kept up with the growing demand. It’s going to take government working at all levels to help close the housing supply gap. I am excited to launch Our Way Home, an initiative that will not only build on the momentum that’s already begun at the federal level, but will also put into focus the unique challenges and successes in communities when it comes to making sure we all find our way home.”
According to HUD, through the American Rescue Plan, communities now have historic levels of housing resources, including $5 billion in HOME grants and significant investments to preserve and protect housing on tribal lands, to help more Americans obtain stable housing.
As part of the “Our Way Home” initiative, HUD will continue to elevate community wins and learn from communities that are building and preserving affordable homes. The Department will be engaging communities in discussions on housing supply policies and resources in the coming months.