High housing costs impact a broad swath of working Americans; Yellen announces $100 million program for affordable housing units.
Tight housing supply contributes to record high home prices; Freddie Mac estimates the need for at least 1.5 million additional homes to meet demand.
Biden administration focuses on building more housing and reducing costs; initiative includes guidance for COVID-19 recovery fund usage and red-tape reductions.
National Association of Home Builders praises Biden administration's housing supply efforts but calls for reduced regulations on new construction.
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