Published January 20, 2021
Big Boost coming to Homebuyers and Builders
With a new administration officially underway, President Joe Biden is looking to ease the frustration of sky-high prices and slim picking of homes as he gears up to implement his plans for the housing market.
From construction to financing, Biden's plans are focused on affordability. Some policies he may push for include:
- $15,000 first-time homebuyer tax credit
- Urging big banks to get back into FHA lending
- Encouraging new construction of both single - and multifamily housing
- Strengthening the Community Reinvestment Act, which is intended to help low - and moderate income areas
Several proposals from the Biden housing plan could take the pressure off both home prices and the supply of houses for sale, with changes potentially coming to both lending and the home construction markets.
Read more about Biden's plans for housing here.
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