(RECAP: Without leadership and effective policy from lawmakers, the nation will continue to fall small of meeting the growing demand for affordable multifamily housing. This was the key takeaway from today’s congressional testimony by Clyde Holland, chairman and CEO of Holland Partner Group, on behalf of the National Multifamily Housing Council and the National Apartment Association. Speaking before the House Committee on Financial Services Housing and Insurance Subcommittee, Holland outlined the primary reasons why America faces a growing affordability problem – stagnant wages, a supply-demand imbalance and numerous hurdles and regulations in developing new apartments – along with potential solutions.)

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(RECAP: After years of speculation and equivocation, Fannie Mae and Freddie Mac will start to cut the mortgage balances for a number of homeowners later this year, according to a report from The Wall Street Journal. The report states that the FHFA recently approved a plot for the government-sponsored enterprises to engage in principal reduction on a large scale for the first time since the housing crisis. Roughly 50,000 borrowers would be eligible for principal reductions under the FHFA’s plot. According to the report, the plot will be officially announced “within the next few weeks.”)

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(RECAP: Gridlock in the housing market that’s slowing both first-time home buys and trade-ups to better units is the chief reason for a persistent housing shortage, according to a new study. The report by online real estate site Trulia casts doubt on the widespread belief that a scarcity of new construction is the main cause of a crunch that has driven up home prices and slowed sales. Instead, the study says, a yawning price gap between mid-level and premium homes that’s shutting out many go-up buyers is the largest obstacle to a more ample supply. Also, a large share of entry-level homes are off the market because they’re owned by either investors or so-called “underwater” homeowners who effectively can’t sell, the study says.)

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