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Bush Addresses Housing in Budget

WASHINGTON, DC-The GSE's regulatory body is receiving a modest boost in funding and funds are being appropriated for a Department of Homeland Security Headquarters.

By Erika Morphy | Updated on February 05, 2008

WASHINGTON, DC-The Bush Administration’s FY 2009 budget is addressing housing and the building industry in several areas that range from the US General Services Administration’s building budget to GSE regulator support to neighborhood reinvestment–the latter of which, critics say, is insufficient for current needs.

Starting out with the GSA budget request, the administration is asking for $481.6 million in discretionary budget authority, which includes the request of a $300.2-million budget authority for the Federal Buildings Fund, $172.9 million for GSA operating appropriations, and an additional $8.5 million for the presidential transition. Of interest to the Washington, DC real estate community is the proposal to build a new home for the Department of Homeland Security, whose operations are still spread out in more than 60 different locations. GSA funding would also be provided to modernize the land port of San Ysidro, CA, one of the largest in the world.

The fiscal year 2009 budget request also includes $66.6 million–a modest increase of slightly more than half a million from the previous year–in funding for the Office of Federal Housing Enterprise Oversight, which regulates Fannie Mae and Freddie Mac.

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