America's Unequal Housing Recovery
"Driven by rising home prices and growing demand, the U.S. housing recovery is well underway," finds the latest State of the Nation’s Housing report released by Harvard's Joint Center for Housing Studies.
"While still at historically low levels, housing construction has finally turned the corner, giving the economy a much-needed boost," says Eric Belsky, the Center's Managing Director. "But even as the recovery gains momentum, millions of homeowners are still delinquent on their mortgages or owe more than their homes are worth, and severe housing cost burdens have set a new record."
"Given the profoundly positive impact that decent and affordable housing can have on the lives of individuals, families, and entire communities, efforts to address these urgent concerns as well as longstanding housing affordability challenges should be among the nation’s highest priorities," he concludes.