Yellen announces efforts to boost the housing supply as high prices create a crunch

By FATIMA HUSSEIN
Associated Press

WASHINGTON (AP) — The Biden administration is announcing new steps to increase access to affordable housing. The Democratic administration is announcing new federal initiatives as still-high prices on groceries and other necessities and high interest rates have dramatically pushed up the cost of living in the post-coronavirus pandemic years. Treasury Secretary Janet Yellen is traveling to Minneapolis on Monday to promote the new investments. The efforts include providing $100 million through a new fund over the next three years to support affordable housing financing, boosting the Federal Financing Bank’s financing of affordable housing and other measures.