JPMorgan Chase (NYSE: JPM) is providing more than $40 million for construction and renovation projects that address the affordable housing shortage.
The bank will offer more than $20 million in grants and $20 million in “flexible, impact-focused term loans” to organizations involved in projects that expand and preserve the housing supply. JPMorgan Chase also announced that it has extended more than $5 billion in debt and equity for affordable housing in the first three quarters of 2025 through the firm’s Commercial Real Estate and Tax-Oriented Investment businesses, which is expected to create and preserve nearly 39,000 affordable housing units
“At JPMorgan Chase, we know that housing is at the root of local economic growth and homeownership is key to building generational wealth. For communities to thrive, people must have a safe, stable place to call home,” said Tim Berry, global head of corporate responsibility and chairman of the Mid-Atlantic Region at JPMorgan Chase. “Leveraging our business, philanthropic, and policy resources, we’re helping to break down barriers to housing production by advancing practical, community-driven solutions. These solutions—supported by streamlined regulations—are key to unlocking economic opportunity and building stronger communities nationwide.”
What’s the plan to gain control of all these investors nation wide and outside the USA who buy up houses on the low end of the market to fix up and turn into rentals? First time buyers cannot compete with all the “cash buyers”! Instead they are forced to become their renters!