Yellen Unveils $100M Affordable Housing Initiative

New measures seek to address the housing supply crisis amid rising costs and upcoming elections.

The Biden administration introduces a $100 million fund to support affordable housing over the next three years.
Treasury Secretary Janet Yellen emphasizes the need for increased housing supply to combat affordability issues.
Home prices have surged by 46% since March 2020, exacerbating the housing crisis.
Economists argue that more substantial federal funding and congressional action are necessary for significant impact.
High mortgage rates and limited housing supply continue to challenge prospective homebuyers.