Trump Proposes 44% Cut to HUD Budget, Reshaping Housing Aid Programs
Key Takeaways Proposed 44% cuts to HUD’s budget could significantly reduce funding for affordable housing programs, potentially displacing thousands of New Yorkers. Essential initiatives like Housing Choice Vouchers, Community Development Block Grants, and Public Housing are at risk of deep cuts or elimination. The ripple effects may include rising rents, decreased tenant support, and growing risks for investors in multifamily housing. How Deep HUD Budget Cuts Could Reshape New York’s Housing Landscape A staggering 44% cut to HUD’s budget threatens to shatter affordable housing from Harlem brownstones to Queens rentals. Lifeline programs like Housing Choice Vouchers, Community Development Block Grants, and Public Housing face unprecedented slashes or elimination. Rents in Manhattan are already at record highs, while Fair Housing funds and eviction support could vanish. Multifamily loan defaults and homelessness risk surging. If these seismic changes hit your portfolio, the consequences...