Single-family home construction starts have only reached the pace of six homes per every 10 new households, according to the Urban Institute's Housing Finance Policy Center. The gap between available housing and demand has caused an increase in home prices and rents.
In order to meet demand, the Urban Institute said that housing policies must change to encourage more construction in low-supply areas, to make rents more affordable, and to encourage lenders to provide more mortgages to first-time homebuyers.
PB Topical Ref
