From the Joint Center for Housing Studies of Harvard University
Although household growth is returning to a more normal pace, this report shows that housing production still falls short of what is needed, which is keeping pressure on house prices and rents and eroding affordability. While demographic trends alone should support a vibrant housing market over the coming decade, realizing this potential depends heavily on whether the market can provide a broader and more affordable range of housing options for tomorrow’s households.
Some of the findings explored in this paper include: Renters are more burdened by housing conditions than homeowners, and land prices have risen sharply in many areas.