The Treasury Department announced initiatives to increase the supply of housing.
Details:
A new program administered by the Community Development Financial Institution Fund will provide an additional $100 million over the next three years to support the financing of affordable housing.
An effort to provide greater interest rate predictability to state and local housing finance agencies borrowing from the Federal Financing Bank to support new housing development.
A call to action for the Federal Home Loan Banks to increase their spending on housing programs.
A new how-to guide to support state and local governments in using recovery funds provided by Treasury to construct housing.
An update to the Capital Magnet Fund to provide greater flexibility to CDFIs and nonprofits that finance affordable housing.
More: Treasury also released a blog post that said increasing housing supply is essential to addressing the long-term trend of rising housing costs.
