HOW WE GOT HERE, HOW WE ADDRESS IT AND THE DEMOGRAPHIC SHIFTS THAT WILL IMPACT WHAT AND WHERE WE CALL HOME
“There is a strong desire for homeownership across this country, but the lack of supply is preventing too many Americans from achieving that dream,” said Lawrence Yun, NAR’s chief economist.
“We have a housing shortage in single-family housing, apartments, rental housing — it’s across the board.
This is a problem, not only because homeownership is
beneficial as far as long-term wealth building, but also because Americans are
forking over a great share of their paycheck for housing costs.”
Yun said the only way to solve the issue is the boost supply. There are many challenges and solutions.
The first issue Yun underscored is overly restrictive zoning regulations.
He supports the
right to determine the character of a neighborhood, but said far too many
cities have overly restrictive zoning and that creates obstacles to building
even slightly denser housing.
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