The White House has a plan to tackle America’s housing shortage — but will it be enough?
President Joe Biden’s administration unveiled a new action plan Monday to bring down the staggering housing costs helping to fuel inflation nationwide.
Much of the impediment to building new homes can be traced to exclusionary zoning laws, which restrict the kinds of homes that can be put in certain neighborhoods and effectively maintain segregation. “As his action plan reflects, President Biden believes the best thing we can do to ease the burden of housing costs is to boost the supply of quality housing,” the White House said. “This means building more new homes and preserving existing federally-supported and market-rate affordable housing, ensuring that total new units do not merely replace converted or dilapidated units that get demolished.
Freddie Mac is looking into the possibility of purchasing the high-interest “chattel” loans often used to buy manufactured homes, previously called mobile homes, for example, and the federal government wants to make it easier to both finance and build manufactured homes.
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