Treasury Secretary Janet Yellen, while announcing the latest administration housing policy measures, said the White House is employing “a broad affordability agenda” to help deal with the ongoing supply shortage and ease record prices.
Last month, due to a blend of supply tightness and solid demand, the median home price soared to an all-time high of $419,300.
Appearing in Minnesota on June 24, Ms. Yellen unveiled new efforts to bolster supply and lower costs, including a $100 million fund over three years to finance affordable housing projects.
“We face a very significant housing supply shortfall that has been building for a long time,” Ms. Yellen said in prepared remarks. “This supply crunch has led to an affordability crunch.”…