U.S. to Tackle Housing Supply Shortage Amid Record Home Prices

Looking to tackle a host of challenges that are hindering the U.S.’s economic recovery, the White House has put the housing supply shortage in the spotlight during a meeting with leaders from across the homebuilding industry.

Biden administration officials including Commerce Secretary Gina Raimondo and Secretary of Housing and Urban Development Marcia Fudge sat down Friday with representatives from across the supply chain, including builders, housing advocates, lumber companies, real estate firms, loggers and labor unions, the White House said. Builders cite high materials prices, scarce supplies and a dearth of skilled workers as ongoing challenges in the race to complete new homes.