Rep. AOC unveils new housing plan to spur more than 1M affordable homes

A new bill introduced by New York Rep. Alexandria Ocasio-Cortez would supercharge the federal government’s role in creating affordable housing.

Rep. Alexandria Ocasio-Cortez of New York is introducing a new bill on Wednesday that could supercharge the federal government’s role in developing affordable housing as millions of Americans struggle to find a place to rent, let alone buy.

The proposal would set rents for units financed under the Homes Act at 25% of household income, meaning the prices would range based on how much a tenant earns. It would also give residents opportunities to purchase their homes under the limited-equity model, which caps resale prices and profits.earlier this year. She said federal legislation will raise the profile of the social housing concept while boosting state efforts to create permanently affordable housing.

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