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

By FATIMA HUSSEIN
Associated Press

WASHINGTON (AP) — The Biden administration announced new steps to increase access to affordable housing. The Democratic administration announced 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 traveled to Minneapolis on Monday to promote the new investments. The efforts include providing $100 million through a new fund to support affordable housing financing over the next three years, boosting the Federal Financing Bank’s financing of affordable housing and other measures.