White House Plan for Affordable Housing
In a statement from the White House, the Biden administration announced they will create 100,000 affordable homes within the next three years.
“President Biden is committed to using every tool available in government to produce more affordable housing supply as quickly as possible, and to make supply available to families in need of affordable, quality housing – rather than to large investors,” the article states. “That’s why today the Administration is announcing a number of steps that will create, preserve, and sell to homeowners and non-profits nearly 100,000 additional affordable homes for homeowners and renters over the next three years, with an emphasis on the lower and middle segments of the market.”
According to the statement, federal agencies will boost the supply of quality, affordable rental units, boost the supply of manufactured housing and 2-4 unit properties, make more single-family homes available to individuals, families, and non-profit organizations – rather than large investors, and work with state and local governments to boost housing supply.
