The Indicator from Planet Money How big is the US housing shortage?
17 snips
Nov 25, 2024 Housing affordability is a pressing issue for many Americans, highlighted by personal stories from those facing high rents. The podcast breaks down the complexities of quantifying the housing shortage, revealing a multifaceted challenge with broad economic implications. It contrasts today’s market with the oversupply of the early 2000s and emphasizes the local dynamics impacting housing. As people adapt to smaller living spaces, innovative solutions like accessory dwelling units are explored, shedding light on evolving housing policies.
AI Snips
Chapters
Transcript
Episode notes
L.A. Housing Struggle
- Olivia Garcia and her fiancé opted to travel overseas instead of paying high Los Angeles rents.
- Upon returning, they found the L.A. apartment search difficult.
Vacancy Rate Challenges
- Calculating housing shortages involves using vacancy rates, but defining "vacant" is complex.
- Factors like vacation homes and houses being cleaned out affect the vacancy rate.
Zoning's Impact
- Some economists estimate housing shortages by considering how many homes would exist without restrictive zoning laws.
- One such estimate suggested 20 million more homes would exist in the U.S. under different regulations.