Share:
House Co-Sponsorship Memoranda
House of Representatives
Session of 2023 - 2024
Regular Session
MEMORANDUM
| Posted: | November 28, 2023 11:49 AM |
|---|---|
| From: | Representative Joe Webster |
| To: | All House members |
| Subject: | Incentives to Build Affordable Homes |
| Pennsylvania is experiencing a housing crisis. According to the Pennsylvania Association of Realtors, housing affordability has drastically decreased and the number of cost-burdened homeowners has only increased. Mortgage payments for average priced homes have only continued to increase as well. Homeowners with lower mortgage rates are now choosing to stay in their homes rather than seek better housing. These circumstances have decreased Pennsylvania’s housing stock, and individuals seeking homeownership are particularly left without options. My legislation would create a low-interest loan program to incentivize builders to construct new homes for sale at an affordable price for low and moderate income individuals and families. This bill would grow Pennsylvania’s affordable housing stock and begin to lessen the burden of the existing housing crisis. Individuals seeking homeownership deserve a fair deal. It is critical that we act to provide options for potential homeowners as the housing crisis only continues. Please join me by co-sponsoring this legislation that would grow Pennsylvania’s affordable housing stock and increase homeownership in the Commonwealth. |
Introduced as HB1940