The U.S. housing shortage has doubled in less than a decade, report finds - Chris Herbert

July 15, 2022, Audio: "Rent is one of the top three contributors to inflation right now. In New York City, for example, average rent was up 22% year over year in the second quarter. Nationally, estimates suggest rents have gone up 10% to 14% since last year.  When you boil it all down, it’s an issue of supply and demand. Even before the pandemic, in 2019, the U.S. was short 3.8 million homes — both places to rent and places to own. That’s according to a new report out from the research group Up for Growth. The shortage is much bigger now than it was in 2012. Double, in fact. And it’s a big part of why home prices and rents are up so much."

Non-HKS Harvard  Author Website - Chris Herbert