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U.S. Department of Housing and Urban Development (HUD) – Real Estate Regulatory Proposal ​

Overview

This proposal outlines a federal initiative led by HUD to centralize and regulate the real estate market, including ownership restrictions, title management, real estate licensing, construction licensing, and rental agreements.

Home Ownership Restrictions ​

• Propose and vote on a law, that only U.S. citizens will be permitted to own residential properties. • Non-citizen ownership of real estate will be prohibited under HUD federal law.

Title Management ​

• HUD will oversee the real estate title process nationwide. • A title management system will be available to the market.

Title Re-verification Requirements: ​

Local jurisdictions will be responsible for re-verifying all property titles. The process will include:

• Valid government-issued photo ID • Proof of ownership (existing title) • U.S. Passport

Based on the law, people not living in their house legally can be reported to ICE.

Property Boundaries: ​

Property boundaries will be re-documented through: ​

  1. A physical walk of the property perimeter
  2. A digital drawing on an official HUD-provided mapping tool

If a citizen is unable to prove ownership, a report will be submitted to the Department of Justice for investigation.

  1. Real Estate Licensing

    • HUD will provide the education resources for real estate licenses to be received.

  2. Rental Agreement Management

    • All rental agreements must be submitted through .realtor containers and reported to HUD.

    • HUD will provide rental agreements to the personal profile, where they can be verified by HUD.

Licensing ​

HUD would manage all the licensing for :

  • Construction Licensing

Plan Approval Districts ​

HUD would manage plan approval districts where plans of housing would be approved. Licenses would be provided to .home-approval-agents along with a platform to submit plans, evaluate, collaborate, and approve and deny them.

HUD would provide the district a budget to hire approved licensed .home-approval-agents.

The districts would charge a processing fee.

They would also have a platform to collaborate with neighbors about impact zones, and the compensation around it.

Wonder how much the first high rise is going to cost in Laguna.