On March 16, 2017, President Trump released his budget for the 2018 fiscal year, which begins on October 1. The proposal would eliminate funding for community development block grants and HOME housing block grants as part of a 13-percent cut in HUD programs. FHA mortgage insurance appears to be left untouched. Funding for flood mapping, which is overseen by FEMA, would be eliminated and the agency directed to explore other mapping options.
Read the analysis to further understand the proposal’s impact on real estate.
Click here to read NAR’s Issue Brief on the 2021 proposed budget and its impact on real estate.