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JP Morgan to Deploy $750B to Increase Housing Supply Via American Dream Initiative
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Commercial Observer
The bank just announced plans to deploy more than $750 billion to increase housing supply and support homeownership in the U.S.
Housing policy is crucial, and so the firm will also prioritize the targeted advocacy of policy that removes impediments and helps to increase housing supply.
Such policies include the 21st Century ROAD to Housing Act, which became federal law on July 11 and is designed to boost housing supply and facilitate pathways to homeownership while also curbing large investor housing purchases.
The bold initiative comes just seven months into Karen Purcell’s tenure as head of community development banking at J.P. Morgan.
J.P. Morgan will begin the rollout in five markets, including Alabama, which was an early focus for J.P. Morgan as part of the broader American Dream initiative.