Biden's Housing Plan Aims to Increase Affordability But May Backfire

• Biden proposed new housing affordability measures like a $5,000 first-time homebuyer tax credit that experts argue could increase demand and raise prices

• Proposals aim to boost supply but may backfire by allowing builders to bid up land prices rather than increase housing stock

• Plan also targets "rent gouging" by landlords which could reduce number of landlords and raise rents

• Affordable housing advocates praised proposals but conservative analysts said measures inflate prices by juicing demand not supply

• Unlikely proposals would pass Congress in an election year, and some argue spending cuts rather than subsidies may better address housing inflation