President Joe Biden this week said he has a plan to build 2 million new homes, part of his efforts to increase the supply of houses in the market which he believes is key towards improving affordability.
Prospective homeowners have struggled to afford getting into the housing market amid record-high mortgage rates and high prices. A limited supply of houses has led to increased competition which has led to increased buying costs.
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By Omar Mohammed – Reporter, Economy & Finance:
President Joe Biden this week said he has a plan to build 2 million new homes, part of his efforts to increase the supply of houses in the market which he believes is key towards improving affordability.
Prospective homeowners have struggled to afford getting into the housing market amid record-high mortgage rates and high prices. A limited supply of houses has led to increased competition which has led to increased buying costs.
Read more: [https://www.newsweek.com/joe-biden-eyes-housing-market-solutions-1881583](https://www.newsweek.com/joe-biden-eyes-housing-market-solutions-1881583)