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53 February 2025 J O U R N A L February 2025 » thousands more families can afford rent thanks to the record number of housing vouchers we funded—the most in 20 years. We helped almost 2 million struggling families stay in their homes during the pandemic and provided more opportunities for Americans to achieve the dream of homeownership and build generational wealth." Below are some highlights of the Administration's historic housing agenda, where over the past four years, HUD has: • Helped more than 2.3 million people buy their first home and served more than 1.2 million borrowers of color. • Reduced mortgage insurance premiums, delivering real savings to American homebuyers and helping more families attain the dream of homeownership through FHA-insured financing. More than a million borrowers have now saved nearly $1,000 per year because of this reduction from March 2023 through September 30, 2024. • Helped nearly 2 million homeowners stay in their homes during the pan- demic and partnered with the U.S. Treasury Department to keep more than 8 million renters in their homes. • Built or repaired over 500,000 affordable housing units. • Drove near-record construction, with 1.7 million new housing units built in 2022. • Taken on needless barriers to hous- ing production and preservation, including by awarding $185 million in PRO Housing funding to support the efforts of communities who have committed to housing-forward policies and practices. • Implemented the most significant update to Manufactured Home Construction and Safety Standards (the HUD Code) in over 30 years. Over the last four years, HUD ensured the safe and affordable pro- duction of approximately 360,000 manufactured homes that adhere to the updated HUD Code. • Issued over 120,000 new housing vouchers in the past four years, the largest expansion of rental assistance in 20 years. The HCV program served more than 5 million people in 2.5 million households last year. • Allocated $105 billion in rental assistance to over 2,100 public hous- ing agencies through the Housing Choice Voucher Program since 2021 to 2,118 Public Housing Agencies from 2021-present. • Successfully delivered more than $1.4 billion in record time through the Green and Resilient Retrofit Program (GRRP), funded by Pres- ident Biden's Inf lation Reduction Act, to modernize over 30,000 affordable homes across 42 states, D.C., and Puerto Rico, making them greener, healthier, and safer. • Permanently housed or served more than 1.2 million people experienc- ing homelessness. • Served almost 90,000 veterans through the VASH program. This is the most veterans served at any point in the program's history. • Since 2023, HUD has awarded or made available over $77 million in funds to prevent homelessness among youth aging out of the foster care system. • Awarded the largest amount of annual federal funding provided through HUD's Continuum of Care program in history—some $3.16 billion to over 7,000 projects, expanding housing and services projects for people experiencing homelessness, including survivors of domestic violence, dating vio- lence, stalking, and sexual assault. In January 2025, HUD expected to deliver an even larger funding package: more than $3.5 billion to "With steadfast leadership, HUD and the Biden-Harris administration were able to make a real difference, even as we faced considerable headwinds in the housing market." —Marina Walsh, CMB, MBA's VP of Industry Analysis