Biden takes actions on affordable housing, aiming to close gap in housing supply in 5 years [View all]
WASHINGTON — Amid skyrocketing housing prices, President Joe Biden's administration is taking new steps to spur more affordable housing as the White House seeks to close the U.S. "housing supply gap" in five years.
Among the efforts is increasing federal assistance to help finance and produce more factory-built manufactured homes including mobile homes.
Freddie Mac recently announced it is exploring purchasing chattel loans, on which the majority of homeowners who buy manufactured homes rely rather than traditional mortgages.
The Federal Finance Housing Agency has also committed to work with lenders to begin a pilot program to offer financing for the construction and renovation of accessory dwelling limits, which are typically cheaper than traditional homes. This housing includes garage apartments, backyard homes and in-law suites.
https://www.msn.com/en-us/money/realestate/biden-to-tackle-affordable-housing-aiming-to-close-gap-in-housing-supply-in-5-years/ar-AAXjZ7z
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