Biden spoke in his address about the need to make housing more affordable. Mortgage rates have soared, and home prices have increased in tandem, pushing home-buying. Among the proposals is providing a $5,000 tax credit for middle-class first-time homebuyers for two years, described as a form of mortgage relief. Also, he pitched a $10,000 credit for those who sell their starter homes.
Some say, though, that the Biden plan would backfire by increasing demand, putting upward pressure on home prices
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