Can Biden and the Federal Government Fix the Housing Market?

President Joe Biden is proposing the federal government take on an increased role in the housing market. Would his plan help homeowners and prospective home buyers?

“Aggressive Federal Intervention”: An analysis from the New York Times (Lean Left bias) determined Biden’s plan involves “aggressive federal intervention” to incentivize cities to relax zoning regulations and allow for increased construction of affordable housing. The analysis argued the plan is unlikely to advance before the general election, but could “serve as a blueprint for a potentially bipartisan effort on the issue if Mr. Biden wins re-election.”

“Campaign Gamble”: Matt Lewis (Center bias) called the plan a “campaign gamble,” highlighting the possibility that Biden could face pushback from suburban homeowners. But Lewis notes that Biden needs the support of young Americans, who are struggling to afford to buy a house. Lewis concluded, “Biden should tread lightly here, and treat this issue like it might win him—or cost him—the election. Because it could.”

“Leave Sellers Worse Off”: The National Review Editorial Board (Right bias) dismissed Biden’s plan, stating, “like most forms of government interference, it would only make the problem worse.” Breaking down the incentives included in Biden’s plan, the board determined the plan “would make no sense as it could leave sellers worse off by hundreds of thousands of dollars over time.” The board concluded the “alarming” plan is a look into the “type of policies he would push in a second term were he reelected with Democratic control of the House and Senate.”