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Here's How We Fix the Housing Crisis
Mar 27, 2024
Deputy Secretary of the Treasury, Wally Adeyemo, discusses fixing the housing crisis, exploring challenges like supply shortages, high mortgage rates, and rising home prices. The podcast delves into under-investment in housing since the financial crisis, the federal government's approach to affordable housing, workforce training programs, tax filing simplification, and addressing escalating housing costs.
30:52
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Quick takeaways
- Government initiatives aim to expand housing supply through policies like low-income housing tax credits to combat affordability crisis.
- Housing's speculative nature, wealth inequality implications, and impact on societal well-being underscore the intricate link between housing, wealth accumulation, and access to homes.
Deep dives
Housing Market Challenges and Consequences
The housing market faces significant challenges leading to high prices and limited affordability for Americans. Factors like low housing supply, high mortgage rates, and booming rental prices contribute to the ongoing housing crisis. The lack of housing inventory and soaring prices pose obstacles for individuals aiming to purchase homes, with median home values increasing substantially. The rising rental prices have surged at a historic pace, affecting two-thirds of inflation metrics and amplifying the housing crisis.
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