The Rent Roll with Jay Parsons EP#48 Michael Novogradac | The 'Big Beautiful Bill' & Rental Housing
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Aug 28, 2025 In this engaging conversation, Michael Novogradac, a leading voice on rental housing tax policy and a partner at Novogradac & Co., discusses the implications of the 'One Big Beautiful Bill' on affordable housing. He shares insights from his testimony to Congress and evaluates the bill's effectiveness in addressing housing issues. The talk also covers a groundbreaking study on how tenant protections can inadvertently drive up rents, emphasizing the need for data-driven policies. Prepare for fascinating insights and trivia questions that unpack the complexities of housing legislation!
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Specific Policies Measured With Concrete Effects
- Source-of-income laws and just-cause/right-to-counsel protections each associate with roughly 5–6% higher rents in analyzed datasets.
- Screening restrictions add 1.5–3.4% to rents, showing operational rules create measurable cost shifts.
Design Regulations With Affordability In Mind
- Policymakers should balance tenant safeguards with their adverse affordability impacts before adopting operational rent regulations.
- Use data-driven analysis to design protections that avoid unintentionally raising rents for the poorest renters.
Novogradac's Origin Story
- Michael Novogradac recounted starting Novogradac & Company after working on early LIHTC rules at a Big Eight firm in the late 1980s.
- He wrote the first LIHTC handbook and launched his firm in 1989 to focus on tax-credit housing work.