Comments are due June 19. Bill introduced to fund rural rental housing. National database on local needs seeks input. The Industry Issue Resolution Pilot Program is designed to establish a consistent IRS position on industry issues. The eligible basis topic is one of seven issues to be considered by the IRS and Treasury.
Housing starts fall but the multifamily sector jumps.
This was the highest level of multifamily starts since February 2000. The overall decline in housing starts was due exclusively to a 4.3 percent decrease in single-family starts to a rate of 1.24 million units. Residential building permits also fell, with a 5.5 percent decline in the multifamily sector and a nearly 3 percent decline on the single-family side. The proposed legislation, which is supported by a broad coalition of national housing organizations, would raise the cap on FHA-insured multifamily mortgage loans for the first time since 1992. FHA insurance programs play a critical role in facilitating the construction and rehabilitation of affordable rental housing.