Housing
Biden Invests $100 Million to Fuel Housing Construction
The White House is expanding low-cost financing, easing regulations and incentivizing local reforms in a wide-ranging effort to increase housing supply.
US construction of single-family homes continues to fall short of the need.
Photographer: David Paul Morris/BloombergThe White House is announcing $100 million in grants to state and local governments to spur the construction of new housing, one of a host of new administrative actions to boost housing supply.
The Biden administration has witnessed record levels of housing production, driven by a pandemic-era boom in apartment buildings. More housing units are under construction now than at any point in half a century — some 60,000 multifamily units were completed in June alone — and rents are stabilizing in some areas as a result.