“YES In My Backyard” (YIMBY)

A federal "YES In My Backyard" (YIMBY) approach when awarding grants to states and municipalities is needed to counter local “Not In My Backyard” (NIMBY) policies that drive up costs and create barriers to the development of affordable housing. A YIMBY approach is also needed to counter burdensome and duplicative federal government reviews that are necessary to obtain real estate development and transportation permits.

Position

On May 16, 2024, the House Financial Services Committee passed the bipartisan Yes in My Backyard (YIMBY) Act, which would help eliminate discriminatory land use policies and remove barriers to production of affordable housing. The Roundtable and 17 other national organizations submitted a letter of strong support for the bill the day before the committee mark-up. (Coalition letter, May 15 | Committee news release and video of committee mark-up, May 16)

The Real Estate Roundtable and 21 other national organizations also expressed their strong support for the bipartisan bill in February to the House Financial Services Committee (Coalition letter, Feb. 20, 2024)

The Roundtable joined another coalition of 285 housing, business, and municipal organizations last year in a letter of support when the YIMBY Act was reintroduced. (Roundtable Weekly, May 26, 2023 and coalition letter)

Background

The YIMBY Act (H.R. 3507), introduced by Rep. Derek Kilmer (D-WA), advanced to the full House for consideration by a vote of 48-0 by the House Financial Services Committee. It was approved on May 16, 2024 as an amendment in the nature of a substitute offered by Mike Flood (R-NE). [Watch Rep. Flood’s remarks in support of the bipartisan bill]

Local land-use rules and community opposition are major obstacles that block high-density zoning designations needed to develop affordable housing and transit-oriented projects. Grants from federal agencies (like the Transportation and Housing Departments) to states and municipalities should be conditioned on the localities’ commitments on taking a YIMBY approach to high density zoning, expanding by-right multifamily zones, and other techniques that create an atmosphere for approval of affordable housing projects and transit-oriented smart growth.

The YIMBY Act (H.R. 3507) requires localities receive certain federal HUD grants to submit a public report on whether they have local policies in place that remove exclusionary zoning tactics. Encouraging high-density development is “an essential first step in decreasing barriers to new housing of all price levels,” according to a supportive YIMBY Act coalition letter endorsed by The Roundtable.

For more information and recent updates, reference our resources below.

Resources
Array ( [0] => 39829 [1] => 39836 [2] => 37698 [3] => 38990 [4] => 38982 )
MORE ISSUES
MORE ISSUES
Affordable Housing
Expanding Housing Supply: Fannie Mae & Freddie Mac
Low Income Housing Tax Credit (LIHTC)
IRS Limitations on Private-Activity Bonds (PABs)
"YES In My Backyard" (YIMBY)
Surplus Federal Real Estate for Affordable Housing