1A How The Idea Of Affordability Is Shaping Our Politics
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Dec 3, 2025 
In this insightful discussion, Jared Bernstein, former chair of the White House Council of Economic Advisers, unpacks the emotional toll of affordability on Americans. Mike Kinsella reveals a staggering 3.8 million home shortfall, stressing its impact on rentals. Annie Lowry explores the link between rising inequality and stagnant wages as core affordability issues. Richard Volpe exposes the reality of shrinkflation and entrenched high grocery prices, urging policy scrutiny to foster competition in the food market. Together, they navigate the urgent need for systemic change.
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Affordability Defined By Economic Stress
- Affordability means purchases that leave people financially stretched and anxious rather than simply unaffordable outright.
- Jared Bernstein frames it as expenses that cause economic stress after basic bills are paid.
Affordability Is Political And Emotional
- Affordability has an emotional and normative component about what people expect to afford.
- Annie Lowry says that perception shifts political outcomes as voters judge candidates on affordability.
Large Housing Shortage Drives Price Pressure
- The U.S. has a housing shortfall of roughly 3.8 million homes as of 2024.
- Mike Kinsella links that shortage to delayed homeownership and rising first-time buyer age.
