Overview

• 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.