Can also be titled "Prices Soar as Fannie Mae, Freddie Mac to Back Home Loans of Nearly $1M"
I don't know how wannabe first time home owners are going to catch a break.
They will buy in the other 97% of counties where million-dollar loans do not require subsidy. Most states do not contain even a single county that qualifies for the higher Fannie/Freddie limits. Notably, this includes Texas, Illinois, and Georgia. There are entire major metro areas where one can work in tech and buy a house for well under $500k.
For example, Atlanta is home to engineering offices for Google, Microsoft, Spotify, and Mailchimp/Intuit and sports a median home value of $349k. This is comfortably affordable to a person making less than $100k.
Our county has a massive homeless population while new housing developments start at 350k. There's been one new apartment complex in the last 25 years.