Housing Affordability Crisis in the United States
Majority of renters surveyed by Harris Poll believe the American dream of owning a home is dead due to unaffordability. Home prices have been rising, construction has been low, and the wealth gap between homeowners and renters is widening. Renters express concerns about the future of owning a home and suggest creative solutions to address the crisis.
Key Points
- Home prices have been rising since 2012, making it difficult for renters to afford homes
- Low construction rates post-Great Recession have resulted in a housing shortage
- Wealth gap between homeowners and renters is growing, with renters facing financial challenges
Pros
- Highlighting the challenges faced by renters in the current housing market
- Drawing attention to the wealth gap between homeowners and renters
Cons
- Increasing unaffordability of homes in the US
- Racial disparities in homeownership rates