The Biden administration announced initiatives to increase funding for housing production and address affordability challenges.
The administration aims to build and preserve over 2 million homes by expanding the LIHTC program and other funding sources.
Federal, state, and local governments will play crucial roles in ensuring affordable and safe housing for Americans.
Initiatives include allocating $100 million to finance affordable housing, providing interest rate predictability, and urging increased support from Federal Home Loan Banks for new construction.