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AP-National

Yellen announces efforts to boost the housing supply as high prices create a crunch

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Published 4:19 AM

By FATIMA HUSSEIN
Associated Press

WASHINGTON (AP) — The Biden administration announced new steps to increase access to affordable housing. The Democratic administration announced new federal initiatives as still-high prices on groceries and other necessities and high interest rates have dramatically pushed up the cost of living in the post-coronavirus pandemic years. Treasury Secretary Janet Yellen traveled to Minneapolis on Monday to promote the new investments. The efforts include providing $100 million through a new fund to support affordable housing financing over the next three years, boosting the Federal Financing Bank’s financing of affordable housing and other measures.

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