it’s strange to me how little attention this is really getting. you’d think politicians would run on solving the housing affordability crisis when half the country is having their life ruined by it.
It will take years to bring supply online. There is no short term fix to build millions of housing units. Also, solving housing affordability drives down real estate prices. Not great as a politician depending on your constituency.
> Also, solving housing affordability drives down real estate prices
Solving housing affordability drives down average per unit real estate prices, obviously, but its likely to increase both land prices and as-improved prices on existing detached single-family residential units.
> As of the fourth quarter of 2020, the U.S. had a housing supply deficit of 3.8 million units. These 3.8 million units are needed to not only meet the demand from the growing number of households but also to maintain a target vacancy rate of 13%. Between 2018 and 2020, the housing stock deficit increased by approximately 52% (See Appendix 1 for detailed calculations of the Housing Supply Deficit).
Young people don't vote. Young people are the ones effected by this since owners locked in low rates during the pandemic. Politicians don't pander to non voters.
Almost all of the proposals to fix the hosuing affordability crisis would piss off NIMBY homeowners who vote so they're not talked about.