For inquiries, contact: Victoria DiLorenzo, MassBudget Housing Analyst, [email protected].
This morning, Governor Healey signed the 2024 housing bond bill, also known as the Affordable Homes Act, into law. Housing bond bills are generally passed every 5 years and authorize the Commonwealth to finance a wide range of longer-term housing investments in the annual capital budget by issuing bonds. In addition to borrowing authorizations, this year’s bond bill contains a significant number of policy changes intended to address the ongoing housing crisis in the Commonwealth.
“The Affordable Homes Act is a meaningful step on the path toward more equitable housing policy in our state,” said Viviana Abreu-Hernández, President of MassBudget. “It authorizes urgently-needed investments in affordable housing and public housing, reduces barriers to production by allowing accessory dwelling units (ADUs) by right, and takes important steps toward equity by establishing a fair housing office, foreclosure mediation pilot, and the sealing of some eviction records.
“We know that no one bill can solve our housing crisis by itself,” Abreu-Hernández continued. “As we celebrate this victory, we must continue to work with urgency to establish ongoing revenue sources to meet our affordable housing needs, and to stabilize all residents who are facing displacement and homelessness.”
