In response to the pressing housing crisis marked by a shortage of affordable housing, rising rents, and increasing homelessness, President Joe Biden and his administration have proposed several initiatives aimed at improving housing accessibility across the country. These include plans to build and renovate two million homes, assist first-time homebuyers, and reduce rental costs. At the core of Biden’s housing proposals is an expansion of the Low Income Housing Tax Credit, expected to create around 1.2 million affordable housing units over the next decade. These measures seek to reshape the housing landscape in America, with hopes of benefiting renters and homeowners and the economy.
