The Biden Administration is taking significant steps to address the housing affordability crisis in the United States. Treasury Secretary Janet Yellen is set to announce new housing efforts as part of a broader push to lower housing costs. This initiative comes amid widespread recognition that a housing supply shortfall has been building for a long time, leading to an affordability crunch. In remarks prepared for delivery Monday afternoon, Yellen says, “We face a very significant housing supply shortfall that has been building for a long time.” Various opinions suggest that increasing housing supply is essential to contain housing costs and address broader economic and social issues.