Download
HTML Embed
HTML EMBED
Click to Copy

Latest Episodes

Download
HTML Embed
HTML EMBED
Click to Copy
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace

The nest is full

Oct 11, 2019
Download
HTML Embed
HTML EMBED
Click to Copy
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Download
HTML Embed
HTML EMBED
Click to Copy

What does HUD do?

Nancy Marshall-Genzer May 23, 2014
Share Now on:
HTML EMBED:
COPY

President Obama has nominated San Antonio Mayor Julian Castro as secretary of the Department of Housing and Urban Development, or HUD.

Now, if you wanna be HUD secretary, there are a few things you should know. No. 1: HUD doesn’t have a say in the biggest federal housing initiative, the housing deductions in the federal tax code.

“HUD has not traditionally been one of the most powerful cabinet agencies,” says Robert Van Order, a former HUD economist who now teaches finance and economics at George Washington University. Van Order points out a second challenge facing Castro: HUD’s budget has been cut. 

Still, Van Order says, housing is important, especially now when it’s so key to our economic recovery. 

“And so the secretary of HUD has to represent housing as a part of the discussions of what legislation ought to be,” he explains.

Henry Cisneros, who was HUD secretary during the Clinton administration, says the top boss at HUD still sets priorities for housing.

“A HUD secretary can make a difference,” he says.  “Tweaking policy and budgets. Working with the Congress.”

And Cisnerso says, don’t forget the Federal Housing Administration , or FHA, is part of HUD. It insures housing loans for people banks pass over.  And during the housing crisis, it was “essentially the only source of credit for first-time homebuyers in particular, but minority homebuyers as well,” says Erika Poethig, who worked on policy development at HUD and left last year to join the Urban Institute. 

Poethig says Castro will have plenty of work to do as the housing recovery sputters along.  

That is, pending a Senate confirmation vote. 

If you’re a member of your local public radio station, we thank you — because your support helps those stations keep programs like Marketplace on the air.  But for Marketplace to continue to grow, we need additional investment from those who care most about what we do: superfans like you.

Your donation — as little as $5 — helps us create more content that matters to you and your community, and to reach more people where they are – whether that’s radio, podcasts or online.

When you contribute directly to Marketplace, you become a partner in that mission: someone who understands that when we all get smarter, everybody wins.

Check Your Balance ™️
Check Your Balance ™️
Personal finance from Marketplace. Where the economy, your personal life and money meet.

Thank you to all the donors who made our fall drive a success!

It’s Investors like you that keep Marketplace going strong!