Yellen announces affordable housing investments

Treasury Secretary Janet Yellen announced that the Biden administration would make investments in affordable housing.

The federal government plans to provide $100 million through a new affordable housing financing fund over the next three years. The plan also includes more financing of affordable housing by the Federal Financing Bank.

“We face a very significant housing supply shortfall that has been building for a long time,” Yellen said. "This supply crunch has led to an affordability crunch."

Read more from The Associated Press.