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Illustration: Aïda Amer/Axios

The Trump administration has rescinded the Affirmatively Furthering Fair Housing rule, an Obama-era policy aimed at curbing discriminatory housing practices and racial segregation.

Why it matters: The suburbs are where some of the fiercest zoning battles regarding affordable and multifamily housing are playing out across the country.

  • Suburban votes will also be crucial in the upcoming election.

What Trump's saying: "I am happy to inform all of the people living their Suburban Lifestyle Dream that you will no longer be bothered or financially hurt by having low income housing built in your neighborhood... Your housing prices will go up based on the market, and crime will go down," he tweeted Wednesday.

Catch up quick: The 2015 AFFH rule required communities that receive federal housing aid to also address racial segregation in their local housing practices.

  • Last week, the Department of Housing and Urban Development said the AFFH rule was "unworkable" for localities.
  • Democrats and housing advocates blasted the rule reversal. Sen. Elizabeth Warren called the move "blatant racism."

Reality check: Trump's appeal to the "Suburban Lifestyle Dream" plays to a vision of suburbia that might be outdated in an era when Black Lives Matter signs line so many lawns. But it also touches a nerve for homeowners who fear that steps to add affordable or multifamily housing will impact property value in their neighborhoods.

  • NYT reporter Conor Dougherty, who writes extensively about the housing crisis in the San Francisco Bay Area, summed it up on Wednesday:
  • "Watching Bay Area/SF pols try to squirm while rationalizing how they don't agree with Trump housing policies that are not so different from their own is some good Twitter," Dougherty tweeted.

Go deeper: Coronavirus could push more Americans to the suburbs

Go deeper

Dion Rabouin, author of Markets
Sep 30, 2020 - Economy & Business

Lower rates, less risk

Expand chart
Data: St. Louis Federal Reserve; Chart: Axios Visuals

Perhaps more important than sustained demand, the mortgage financing landscape now is "very different from 2006," Danielle Hale, chief economist for Realtor.com tells Axios.

By the numbers: She cites metrics like the Mortgage Bankers Association's mortgage credit availability index, which found credit supply at its lowest level since March 2014 in August, and well below where it stood in 2006, at "over 800."

Updated 11 hours ago - Politics & Policy

U.S. sounds alarm on Ukraine

Conscripts line up at a Russian railway station yesterday before departing for Army service. Photo: Sergei Malgavko/TASS via Getty Images

The Biden administration is "deeply concerned" by new intelligence — detailed for Axios and other outlets — showing Russia stepping up preparations to invade Ukraine as soon as early 2022.

Why it matters: Most of this was known from public sources and satellite imagery, but the administration is sending a stronger signal by releasing specific details from the intelligence community.

12 hours ago - Economy & Business

CNN fires Chris Cuomo

Photo: Kevin Mazur/Getty Images for CNN

CNN said Saturday evening it has fired one of its star anchors, Chris Cuomo, following new revelations from a legal review made by the company into Cuomo's involvement in the management of his brother's sexual harassment scandal.

Why it matters: Saturday's firing speaks to how much pressure CNN was under by employees and critics to address Cuomo's behavior.