Tuesday 17 May 2022 02:13 AM Biden announces plan to boost affordable housing trends now
Biden announces plan to boost affordable housing with new federal funds and new smaller homes as sky-high inflation sees prices rise by more than 19%
Biden's plan will expand federally backed financing for affordable housing and focus on building and preserving rental housing Also will start a test program to fund construction of tiny homes to increase the housing supply and increase money for manufactured homes Biden trying to counter inflation as midterm election approaches U.S. housing prices have risen 19.8% in February By Emily Goodin, Senior U.S. Political Reporter
Published: 15:14 BST, 16 May 2022 | Updated: 02:07 BST, 17 May 2022
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President Joe Biden announced a plan on Monday to make housing more affordable, particularly for first-time homeowners and for renters being gouged by high inflation.
The proposal will expand federally backed financing for affordable housing, focus on building and preserving rental housing for low- and moderate-income families, and start a test program to fund construction of tiny homes to increase the housing supply.
The administration is also examining increasing funding for manufactured homes, which are constructed in factories and then shipped to destinations. And officials will work with the private sector to address supply chain challenges and improve building techniques to finish construction in 2022 on the most new
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