Easier to Build and Easier to Buy —

HUD Wants to Bring Community Banks Back to the Table

At the Tomorrow.City USA conference in West Palm Beach, Florida, HUD Secretary Scott Turner shared how the Department is working to make it easier to build housing and easier to buy a home. Key takeaways:


Opportunity Zones — now permanent

  • Made permanent under the One Big Beautiful Bill (July 2025), with a new 30% step-up in basis for rural investments — and 40% of all Opportunity Zones are in rural areas
  • Results to date: ~$100 billion invested in distressed urban, tribal, and rural communities; ~400,000 new housing units; ~500,000 jobs created; and an estimated 1 million people lifted out of poverty
  • Treasury has released ~25,000 eligible census tracts for Opportunity Zones 2.0, effective in January; roughly 6,000 will be designated by governors and certified by Treasury


Cutting regulatory costs

  • Regulations now add roughly $100,000 to the cost of a single-family home — HUD is tearing down red tape to make it easier for builders to build
  • Rolled back the Affirmatively Furthering Fair Housing rule, returning zoning control and flexibility to local communities


Expanding access to mortgages

  • A new executive order aims to increase lending competition and bring community banks and hometown lenders back to the table, so creditworthy low- and moderate-income and rural families can access mortgages
  • Goal: lower the average age of first-time homebuyers, which now stands at 40


Manufactured and modular housing

  • Highlighted as a major solution to the housing supply gap — about 22 million Americans already live in manufactured housing, and today's designs and technology are a far cry from the past


HUD refocused on its mission

  • Taking inventory of every program office, cutting waste, fraud, and abuse, and embracing innovation and technology to serve the American people


Source: "Opportunity Zones Are Shaping Tomorrow.City," HUDchannel

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