The Housing Building Occupancy Opportunities for Millions Act, or Housing BOOM Act, aims to tackle the escalating housing crisis in the United States by increasing the availability of affordable housing through various funding mechanisms and programs. The act's primary focus is to support the construction of new homes, assist those facing homelessness, and promote fair housing practices. Key provisions include raising the housing credit ceiling for states from 1.12 to 3.36, which facilitates the creation of the Middle Income Housing Construction Loan Fund.