The State of the Nation’s Housing 2024
June 20, 2024 by Both US homeowners and renters are facing rising housing costs. Elevated home prices and interest rates are pricing out potential buyers, while rents have surged, leading to record-high cost burdens. Despite increased single-family and multifamily construction, affordability gains are limited by household growth, development constraints, and high construction costs. Even more troubling, the number of cost-burned homeowners and renters has reached record highs, with significant impact on low-income households. Addressing the affordability crisis requires cooperation among all stakeholders to tackle issues like the inadequate housing safety net, homelessness, and climate change threats.