Supply remains low, signaling little relief for renters and potential homebuyers.
U.S. home prices are projected to rise by 2.8 percent by the end of 2024, according to CoreLogic, signaling that the housing crisis will likely continue throughout the year.
As Casey Quinlan explains in Florida Phoenix, “Much of the current predicament renters and homebuyers face is linked to high housing demand, low housing inventory and the Fed’s cycle of hiking interest rates.”
In other words, renters and homebuyers shouldn’t expect relief anytime soon. “A lack of housing stock, both in for sale and overall inventory, is a key long-run problem for housing affordability, said Robert Dietz, chief economist for the National Association of Home Builders. A lack of accessible rental inventory that provides both single family and multi-family rental housing is a problem, he said.”
A shortage of workers is also slowing down housing production. “A 2023 Home Builders Institute report found that construction would need to add hundreds of thousands of workers to meet residential construction demand.”
FULL STORY: When will housing affordability improve? Spoiler alert: It will take some time
Rents Rose Between December and January
After dropping to a three-year low, U.S. rent costs grew in many major cities.
National Survey Shows ‘Severe, Widespread, and Worsening’ Housing Crisis
Mayors from around the country agree that more support is needed at the federal level to strengthen housing assistance programs.
Modular Workforce Housing Offers a Lifeline for Western Towns
Rapidly rising housing costs are pushing out the residents at the heart of local economies in resort towns across the country.
National Parks Layoffs Will Cause Communities to Lose Billions
Thousands of essential park workers were laid off this week, just before the busy spring break season.
Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50
A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.
Delivering for America Plan Will Downgrade Mail Service in at Least 49.5 Percent of Zip Codes
Republican and Democrat lawmakers criticize the plan for its disproportionate negative impact on rural communities.
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Balancing Bombs and Butterflies: How the National Guard Protects a Rare Species
The National Guard at Fort Indiantown Gap uses GIS technology and land management strategies to balance military training with conservation efforts, ensuring the survival of the rare eastern regal fritillary butterfly.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
EMC Planning Group, Inc.
Planetizen
Planetizen
Mpact (formerly Rail~Volution)
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research
NYU Wagner Graduate School of Public Service