Biden Administration Announces $100M Initiative to Boost Affordable Housing

New funding aims to cut red tape and increase housing supply, addressing long-standing shortages.

$100 million in grants will help communities remove barriers to housing construction.
Additional $250 million in low-interest loans for housing renovation and reuse projects.
New policies to expedite permitting and streamline federal regulations introduced.
Interest rate predictability for state and local housing finance agencies enhanced.
Efforts to convert commercial properties to residential use supported by new guidelines.