Housing Affordability Crisis

The United States is experiencing a significant housing affordability crisis, with renters facing increasing financial strain since the 1960s. Many renters now spend a larger percentage of their income on housing, largely due to insufficient new housing development that fails to meet the needs of a growing and changing population. Local and state regulations are barriers to construction, hindering the ability to build diverse types of housing, particularly smaller apartment units in high-cost urban areas. This has resulted in individuals facing tough choices such as living in less desirable locations or sacrificing other budget areas to afford housing.