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While basic economic logic may imply that increasing the supply of housing will decrease the price of a home, the data shows this is not the case. By comparing the number of housing starts and low-income units constructed in a given year within New York, California, Washington, and Texas, it’s evident that a robust solution to the housing affordability crisis will call on communities across the nation to do more than just build houses.
The rest of the story
The housing affordability crisis in the United States is not only the result of economic factors. Other factors play a role, such as:
-The unequal geographic distribution of employment opportunities
-Zoning laws and other locally rooted policies
-Demographic characteristics
In our next series of blog posts, we will be exploring how these additional factors have contributed to the housing affordability crisis facing the United States. By developing a better understanding of how and why the housing crisis emerged, we can begin to understand what solutions have the greatest potential to create more vibrant housing communities across the nation.
