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It finds that in 2022, as rents spiked during the COVID-19 pandemic, a record half of U.S. renters paid more than 30% of their income for rent and utilities. Nearly half of those people were...
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’s an important issue for the public, too: In a recent Pew Research Center survey, 69% of Americans said they were “very concerned” about the cost of housing, up from 61% in April 2023. But what counts as an “affordable” home, and how many Americans are struggling to afford a place to live?
Finding affordable housing for both renters and buyers is feeling impossible lately. Experts point to a shortage of an estimated four to seven million homes.
While Americans continue to struggle under unrelentingly high rents, as many as 223,000 affordable housing units like Maalouf’s across the U.S. could be yanked out from under them in the next five years alone.
Millions of Americans, especially people of color, are facing those same, painful decisions as a record number struggle with unaffordable rent increases, a crisis fueled by rising prices from inflation, a shortage of affordable housing and the end of pandemic relief.
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.
America’s affordable housing crisis is likely to be solved in cities and states. In today’s newsletter, I’ll explain how many are already doing so in bipartisan fashion. Home prices are up...
Low interest rates and quarantines stoked housing demand while labor and materials shortages and supply chain challenges slowed construction and increased costs. Land prices and development costs...
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.