White House to unveil measures to deal with housing crisis
WASHINGTON – Biden administration set to unveil package of measures aimed at addressing the United States shortage of entry-level housing and rental buildings, according to people familiar with the matter, steps intended to boost their financing and construction in the years to come.
The changes would rely on the administrative authority of government regulators such as the Federal Housing Finance Agency as Congress assesses broader policy changes linked to the debate over U.S. infrastructure reorganization, according to a draft plan under review Tuesday by the Wall Street Journal. Details could change before the White House releases its final version. The FHFA oversees Fannie Mae and Freddie Mac, the two mortgage giants who support about half of the $ 11 trillion mortgage market.
Individually, each regulatory gesture is technical and modest. Collectively, however, “they are expected to have a significant impact, especially because they are all focused on the lower end of the market, where there is the most need,” said Jim Parrott, a former housing advisor. from the Obama administration, commenting on the project.
The White House was due to announce the measures as early as Wednesday, one of the people said.
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