It’s not official yet, but reports indicate that Ben Carson, the retired neurosurgeon and Republican presidential contender, will be named secretary of the U.S. Department of Housing and Urban Development, an agency that helps people secure affordable housing.
Realtor.com explored what this news would mean for the housing market. Carson had said during his presidential campaign that he wanted to eliminate home mortgage interest deductions, scale back or eliminate inefficient federal programs, and privatize Fannie Mae and Freddie Mac. These strategies would remove tax breaks that benefit higher-income homeowners and limit the number of mortgages available.
Carson is also no proponent of a HUD rule, the Affirmatively Furthering Fair Housing, which requires certain communities that receive HUD grants to assess and address problems with residents of all races, nationalities, disabilities, and income levels to ensure they receive equal access to housing. … Carson’s appointment could also affect taxpayer-supported subsidized housing, which primarily helps homeless, low-income, and even senior Americans.