Treasury Secretary Janet Yellen on Monday unveiled a new slate of financing initiatives to support housing development, including a $100 million fund specifically for affordable housing.

The announcement came days before President Joe Biden faces off against former President Donald Trump in the first presidential debate, where inflation is likely to be a key point of contention.

Treasury Secretary Janet Yellen announced several small-scale measures advertised as an effort to boost the country’s housing supply as families suffer from an explosive rise in home prices and mortgage rates under President Joe Biden.

Yellen will unveil the policies during a speech on Monday in Minneapolis. Among the measures is $100 million over the next three years in a new housing fund, which is designed to support financing for affordable housing.

The Treasury Department said the new funding will support the financing of thousands of affordable housing units.

Population changes spurred by the pandemic. Byzantine zoning laws that make construction agonizingly slow and expensive. Stagnant wages amid stubborn inflation rates.

All these factors have contributed to years of skyrocketing housing prices — and leaders in Washington, including President Biden — have shown little ability to get a handle on the issue. That’s putting even more pressure on governors to come up with solutions to the affordable housing crisis.

Ahead of the 2024 presidential election, home prices and housing affordability are emerging as hot issues in the swing states that will decide the election.

While the housing crisis is an issue across the country, an analysis of Realtor.com® affordability score data shows distinct trends separating red states, blue states, and the seven key swing states: Arizona, Georgia, Michigan, Nevada, North Carolina, Pennsylvania, and Wisconsin.

John Pike’s biggest fear is ending up on the street.

For years, the retired 79-year-old Madison, Wisconsin, resident has barely made ends meet, with no discretionary income to speak of. Most of his Social Security check of $1,578 goes toward rent. At $1,220, that's more than 77% of his monthly income. Between the rising cost of food prices since the pandemic and his prescription medication, there’s hardly anything left.

Ahead of the 2024 presidential election, home prices and housing affordability are emerging as hot issues in the swing states that will decide the election.

While the housing crisis is an issue across the country, an analysis of Realtor.com® affordability score data shows distinct trends separating red states, blue states, and the seven key swing states: Arizona, Georgia, Michigan, Nevada, North Carolina, Pennsylvania, and Wisconsin.

On average, red states are more affordable than the US as a whole, and blue states are less affordable.

The Biden administration is under growing pressure to finalize a policy hailed by progressive Democrats as essential to ensuring people of color have access to affordable housing.

A group of 28 House Democrats is demanding the Biden administration quickly issue the long-pending policy amid growing anxiety that it won’t be released or would be released late enough in the president’s term that it could be subject to rollback by a potential Donald Trump administration.