President Biden announces plan to ease burden of housing costs

WASHINGTON -- The Biden Administration announced a plan to ease the burden of housing costs. The administration said the goal is to close the housing supply gap over time.

Some of the things the plan is designed to accomplish include closing America's housing supply shortfall in five years.

The plan could create and preserve hundreds of thousands of affordable housing units in the next three years.

By the end of 2022, the Biden Administration would like to finish construction on the most new homes in any year since 2006.

For the full details of the housing supply action plan, click here.