The Trump administration warned that affordable housing constraints are a potential threat to U.S. economic growth, blasting New York and 10 other metropolitan areas for excessive regulations that are driving up costs and fueling homelessness
The Trump administration on Thursday warned that affordable housing constraints are a potential threat to U.S. economic growth, blasting New York and 10 other metropolitan areas for excessive regulations that are driving up costs and fueling homelessness., the administration highlighted housing alongside issues such as the opioid crisis as key policy challenges that needed to be addressed to extend the nation's record economic expansion.
In its overall economic outlook, White House economists projected gross domestic product this year would grow less than 2.5 percent if current policies remained in place — another year in which the economy would fall short of the 3 percent growth touted by President Donald Trump but not yet achieved during his time in office. The White House said growth could break 3 percent this year if Trump's full economic agenda were implemented.
But housing was singled out as among the biggest roadblocks to growth. At issue for the administration are regulations imposed by state and local governments including zoning and rent controls, building codes, environmental regulations and historic preservation requirements. The administration claimed that homelessness would fall in those areas if the regulations were relaxed.
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