Sen. Tim Scott Challenges Biden Administration on Housing Affordability by Savannah Hulsey Pointer – US Politics News

Senator Tim Scott (R-S.C.) offered sharp criticism of the Biden administration’s housing policies during an April 18 Senate hearing.
In his opening statement at a hearing on the Oversight of Federal Housing Regulators before the Senate Committee on Banking, Housing, and Urban Affairs, Mr. Scott accused the administration of failing to address housing affordability issues effectively.
Mr. Scott, the ranking member of the committee, offered a concern voiced by multiple lawmakers, highlighting the challenges facing many Americans in the housing market since President Joe Biden took office.
The South Carolina Republican pointed to several trends, including a 150 percent increase in mortgage rates, a 20 percent rise in rents, and a sharp uptick in homelessness, including a 12 percent increase in just one year, which he described as the highest number on record for the United States….