Supply remains low, signaling little relief for renters and potential homebuyers.
U.S. home prices are projected to rise by 2.8 percent by the end of 2024, according to CoreLogic, signaling that the housing crisis will likely continue throughout the year.
As Casey Quinlan explains in Florida Phoenix, “Much of the current predicament renters and homebuyers face is linked to high housing demand, low housing inventory and the Fed’s cycle of hiking interest rates.”
In other words, renters and homebuyers shouldn’t expect relief anytime soon. “A lack of housing stock, both in for sale and overall inventory, is a key long-run problem for housing affordability, said Robert Dietz, chief economist for the National Association of Home Builders. A lack of accessible rental inventory that provides both single family and multi-family rental housing is a problem, he said.”
A shortage of workers is also slowing down housing production. “A 2023 Home Builders Institute report found that construction would need to add hundreds of thousands of workers to meet residential construction demand.”
FULL STORY: When will housing affordability improve? Spoiler alert: It will take some time
DC Residents Want Affordability Over ‘Character’
A poll finds that most residents want to see changes in zoning and land use laws that unlock more housing construction in the District and improve affordability.
Rents Rose Between December and January
After dropping to a three-year low, U.S. rent costs grew in many major cities.
National Survey Shows ‘Severe, Widespread, and Worsening’ Housing Crisis
Mayors from around the country agree that more support is needed at the federal level to strengthen housing assistance programs.
Trump Administration Could Effectively End Housing Voucher Program
Federal officials are eyeing major cuts to the Section 8 program that helps millions of low-income households pay rent.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Canada vs. Kamala: Whose Liberal Housing Platform Comes Out on Top?
As Canada votes for a new Prime Minister, what can America learn from the leading liberal candidate of its neighbor to the north?
Washington State’s Parking Reform Law Could Unlock ‘Countless’ Acres for New Housing
A law that limits how much parking cities can require for residential amd commercial developments could lead to a construction boom.
Wildlife Rebounds After the Eaton Fire
Following the devastation of the Eaton Fire, the return of wildlife and the regrowth of native plants are offering powerful signs of resilience and renewal.
LA to Replace Inglewood Light Rail Project With Bus Shuttles
LA Metro says the change is in response to community engagement and that the new design will be ready before the 2028 Olympic Games.
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