"Biden's Plan for Affordable Housing: Tax Credits, Relief, and Supply Boost"

During his State of the Union address, President Biden proposed a mortgage relief credit to help middle-class homebuyers, aiming to provide a $400 monthly tax credit for two years to reduce mortgage rates. He also called for legislation to build and renovate 2 million affordable homes to address the housing supply gap and combat rising rental costs. Additionally, a multi-agency anti-price-gouging "strike force" was launched to curb unfair pricing, including combating egregious rent increases.