Source: Realtor.com —
President Joe Biden has a new plan to fix the severe housing shortage that is plaguing America, leading to record-high home and rental prices. The fate of the nation’s housing market hangs in the balance.
The administration’s Housing Supply Action Plan, released on Monday, has an ambitious stated goal: It aims to increase the supply of housing enough to end the inventory shortage within five years.
Much of the plan focuses on providing financial incentives for communities to allow more smaller homes to go up and offer financing for builders who put up more lower-priced housing. The president anticipates the result will be more affordably priced housing available for homebuyers and renters.
