NAR Letter to House Financial Services Committee Regarding the Yes in My Backyard (YIMBY) Act (H.R. 3507) Act Markup

Issue Date: May 15, 2024

US HR 3507 - Yes In My Backyard (YIMBY) Act

NAR believes the Yes in My Backyard (YIMBY) Act (H.R. 3507) can increase the supply of housing by requiring localities receiving Community Development Block Grant (CDBG) funds to publicly report how they are removing barriers to affordable housing development.  The YIMBY Act also encourages state and local governments to consider a variety of methods that contribute to the housing supply, like removing zoning regulations, reducing parking requirements, or decreasing regulatory barriers that prohibit development.