A new report argues that America is currently in the midst of a “housing crisis,” as the number of homes available fails to keep pace with surging demand for real estate, freezing many prospective homeowners out of the market under current conditions.
Last week, the non-profit organization Up for Growth released its report “Housing Underproduction in the U.S.,” which details the severe and growing imbalance between high demand and low supply for houses.
The report begins by announcing, “America is experiencing a housing crisis,” and the content of the report attempts to underscore the severity of this point. The authors note that there is a deficit of 3.8 million homes short of housing needs—twice the number from 2012, accompanied by a rapid increase in home prices making an increasingly prohibitive market….