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Biden will make a series of proposals on housing in today's State of the Union Address, according to the Washington Post.
- A $5,000 per year credit for first-time home buyers
- A one-year credit of up to $10,000 for families who sell starter homes that are priced at below county median prices
- Biden will also call for an expansion of the low-income housing tax credit to build or preserve 1.2 million more affordable rental units
- Anew neighborhood homes tax credit to build or renovate affordable homes
- Anew $20 billion competitive grant fund to build affordable rental units
Many (all?) of these programs will have to get through Congress and that's a tall order right now but the moves speak to priorities and polling that suggests home building and housing affordability are American priorities. I expect the back half of this decade to feature a home-building boom.
