"Biden's Plan to Address Housing Affordability: What You Need to Know"

President Biden proposed tax credits for first-time homebuyers and families selling their starter homes to ease affordability and stimulate the housing market, aiming to counter high home prices and soaring mortgage rates. Economists have expressed mixed opinions, with some praising the effort to thaw the frozen housing market while others cautioning that the tax incentives may not be sufficient to overcome the challenges posed by high home prices and mortgage rates.