"Biden's Bold Plan: Tax Credits and Solutions for America's Housing Crisis"

President Biden will propose a $10,000 tax credit for first-time homebuyers and sellers, the construction of 2 million homes, and cost reductions for renters in his State of the Union address. The plan includes a mortgage relief credit, down payment assistance, and measures to incentivize homeowners to sell. Additionally, Biden aims to address housing supply challenges and control costs for renters, with proposals to expand rental assistance and target corporate landlords. Housing associations have responded positively to the proposals, while also expressing concerns about potential impacts on consumer protections and competition.