Facing the specter of the burst housing bubble, the Obama administration failed to rejuvenate frozen housing development. Today, the public is bearing the consequences of rising home prices and widespread homelessness.

Amid the congressional fight over the social spending bill, the House Financial Services Committee approved the largest direct housing investment since the New Deal, totaling over $150 billion. To contextualize, the Obama recovery bill included a one-time $14 billion investment into HUD programs. The proposed Biden housing plan is that, every year, for a decade.