AP News, June 24, 2024, Yellen Announces Efforts To Boost The Housing Supply As High Prices Create A Crunch
The Biden administration announced new steps to increase access to affordable housing as still-high prices on groceries and other necessities and high interest rates have dramatically pushed up the cost of living in the post-pandemic years.
Treasury Secretary Janet Yellen promoted the new investments on Monday during a visit to Minneapolis. The investments include providing $100 million through a new fund to support affordable housing financing over the next three years, boosting the Federal Financing Bank’s financing of affordable housing and other measures.
