As we continue through the 50th year of the Fair Housing Act, and assessing what fair housing means in today's society, it is obvious there are areas that need change. The Affirmatively Furthering Fair Housing (AFFH) rule is under review, in it's current state, which HUD Secretary Ben Carson feels actually suffocates the investment in and development of some of our most distressed neighborhoods. He believes that a restructuring of the rule, finalized in 2015, could enhance housing choice. A greater housing supply is one way the changes could be effective.
NAR president Elizabeth Mendenhall shares similar thoughts, and shares that NAR believes 20th Century zoning and land use restrictions increased segregation in areas, which is still present today. Mendenhall notes that the zoning requirements are "outdated, inappropriate or overly restrictive". Higher home values have been noted in communities where land use regulations are burdensome.
Investors aren't likely to look, let alone purchase, in areas where there are many hoops to jump through. Besides investors, many consumers aren't able to purchase fair housing at a fair price, due to the dated regulations and their affect on housing prices.
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