U.S. Housing Affordability Crisis

SOURCE www.newsweek.com
It will take over 7 years to solve the U.S. housing affordability crisis due to a shortage of homes, high mortgage rates, and underbuilding since the 2008 recession. Homebuilders have increased efforts, but it's still a major challenge. Trump's policies could worsen the situation.

Key Points

  • Shortage of 3.8 million housing units in the U.S.
  • High mortgage rates and construction costs are exacerbating the crisis
  • Builders are increasing construction efforts

Pros

  • Home supply has grown in some states like Florida and Texas
  • Builders are ramping up construction efforts

Cons

  • Shortage of 3.8 million housing units in the U.S.
  • High mortgage rates and construction costs are exacerbating the crisis
  • Expected delay in solving the housing supply gap