President Biden’s housing plan was announced last week with the goal of increasing the housing supply, solving the housing shortage, and making buying a home easier for everyday Americans. The “Housing Supply Action Plan” is set up with multiple proposals which touch on making more flexible zoning laws, granting more funds to local governments, and helping ease the supply chain burden many home builders face.
This comes at a time when inventory continues to hit rock bottom, home prices remain high, and first-time homebuyers become perpetual renters, waiting for the housing market to stabilize. This proposal seeks to help solve, or at least mitigate, most of these problems. But, as with many government programs, we have to ask the question of when and how this plan will finally be put into action.
Do you have hopes for the government stepping in and helping the housing market, or do you feel that a housing market crash is on the way? Let us know in the comments below, and be sure to stay up-to-date on everything housing market-related with BiggerPockets’ new podcast, “On The Market”, featuring our own Dave Meyer (links below)!
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Check out Last Week’s Episode on The “Lock-In
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The “Housing Supply Action Plan” Press
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Moody’s Analytics Housing Supply Shortage
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NAR Statement on President Biden's Housing Supply
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How Did Housing Get So
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