The Biden administration announced initiatives to increase funding sources for housing production due to high mortgage rates and supply challenges, aiming to build and preserve over 2 million homes.
Federal, state, and local governments play a crucial role in ensuring all Americans have affordable and safe homes, with the Treasury allocating $100 million for affordable housing and urging legislative action.
Initiatives involve financing affordable housing through Community Development Financial Institutions, providing interest rate predictability for housing finance agencies, and calling on Federal Home Loan Banks to increase support for new construction.
#biden-administration #housing-production #affordable-housing #funding-initiatives #federal-programs
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