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Housing is front and center in both of the major parties' campaigns for the White House. We asked two RAND experts to bring us up to speed on the housing issues and discuss the policies and proposals that might ease the historically tight housing market for buyers and renters alike.
It leaves low-income tenants caught facing protracted eviction battles, scrambling to pay a two-fold rent increase or more, or shunted back into a housing market where costs can easily eat half a paycheck.
Since 2019, the biggest jump in unaffordability was for households making $30,000 to $74,999 a year. Even among those working full time, a third of all renters were still cost-burdened.
Between 2019 and 2021, the shortage of homes affordable and available to renters with extremely low incomes worsened by more than 500,000 units, increasing from a shortage of 6.8 million to 7.3 million, and continuing a long-term trend of diminishing supply.
About six-in-ten U.S. adults living in urban areas (63%) say that the availability of affordable housing in their community is a major problem, compared with 46% of suburban residents and 40% of those living in rural areas.
Millions of Americans are losing out on the chance to reap the benefits of homeownership because of a supply shortage. This shortage is most acute among affordable homes, where low- and moderate...
A surge in homebuying spurred by record low mortgage interest rates during the COVID-19 pandemic has further strained the availability of homes. Here are some of the key measures of the housing affordability crunch in the United States and the reasons behind it.
March 25, 2024 10:48 AM EDT. T he U.S. has a housing crisis — one only growing more serious with each day. In the District of Columbia, a recent report by the Urban Institute found that 12% of...
Closing the housing affordability gap will require a comprehensive housing strategy, including developing new units, preserving existing affordable housing, and expanding rental assistance. Expanding the Housing Choice Voucher program would most immediately help renters absorb cost increases.
Shortages of affordable housing are a long-standing challenge in the United States. High interest rates and low inventory are contributing to this issue, as is the growing number of millennials, who are looking for larger homes to raise families.