Just in the past few weeks, the Biden administration announced it would take steps to address a severe housing shortage in the U.S.
President Joe Biden now plans to create and sell about 100,000 affordable homes over the next three years using existing funds, according to the White House.
“Demand for housing soared early in the pandemic as Americans sought more spacious accommodations for home offices and home schooling, but a shortage of homes for sale and supply chain bottlenecks have driven housing prices sharply higher,” as a Reuters report said. “Rental prices, which typically follow the lead of house prices, are also a big concern, given that even before the pandemic, 11 million families — or nearly a quarter of all renters — were already spending more than half their income on rent, according to the White House.”
This latest news from the Biden administration will hopefully limit sales to large investors, and instead…