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- The Biden Administration has launched a new program aimed at tackling the US housing crisis.
- Developers can access billions in federal funds to help convert empty offices into apartments.
- Office vacancies are at a 30-year high as WFH continues after the pandemic.
The pandemic has left plenty of offices empty as people continue to work from home. Meanwhile, there aren't enough homes to meet demand in many places.
Joe Biden's administration has come up with a plan it thinks can help address the housing crisis: encouraging developers to turn unwanted office buildings into apartments.