Janet Yellen has revealed plans for an additional $100 million in funding aimed at addressing housing affordability issues.
Yellen has announced a $100 million increase aimed at addressing the housing affordability crisis.
Treasury Secretary Janet Yellen is boosting affordable housing with a $100 million funding increase over three years from COVID-era investments in community lenders. Since 2021, $8.57 billion has backed community lenders including $1.2 billion for 433 affordable housing projects. Yellen aims to fund more affordable housing units through the CDFI Fund highlighting the critical shortage disproportionately impacting low-income and Black households. Christopher Tyson praised the move citing a national shortage of about 2 million housing units, according to the report of Star Adviser.
(photo: Bloomberg)
Yellen calls on Federal Home Loan Banks to increase their housing support efforts twofold amid economic concerns in an election year
Secretary Yellen pushed Federal Home Loan Banks to double housing program contributions, aiming to raise $2 billion over five years. This supports Biden’s housing affordability goals amid economic challenges and upcoming elections utilizing financial institutions for national housing needs.
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