In response, they put forward several proposals to “solve the problem of supply shortages and reduce price pressure on the housing market.”
Chief among the proposals is the delivery of 100,000 housing units over the next three years.
To this end, the White House said it would allow state-sponsored corporations (GSC) Fannie Mae and Freddie Mac to increase the number of mortgages available for completed homes and homes by two to four units. He also plans to expand financing options for apartment buildings through loans, tax credits and grants.
In addition, officials said the supply-side policies on its economic agenda will lead to the construction and rehabilitation of roughly two million housing units across the country.
Officials said a combination of federal subsidies, low-income housing tax credits, subsidized tax credits for building and renovating homes for homeowners living in economically vulnerable communities, and stimulating the lifting of the ban on social exclusion will help to build new affordable housing. zoning and land-use policies restricting new construction.