"The housing crisis has its own vocabulary. These buzzwords help explain what gets built, what it costs and whether you have a shot."
"Part of the problem comes from decades of building trends. As land and construction costs have risen, builders have focused more on larger, higher-priced homes, which tend to be more profitable."
"Roughly 3 in 5 Americans (61%) say starter homes don't even exist anymore, according to a recent NerdWallet survey conducted online by The Harris Poll."
"A major bipartisan housing package, the 21st Century ROAD to Housing Act, aims to encourage new construction by cutting regulatory red tape and expanding financing tools."
The median age of first-time homebuyers is now 40, reflecting the difficulties in purchasing homes. A significant factor is the housing shortage, driven by decades of building trends favoring larger, more expensive homes. A recent survey indicates that 61% of Americans believe starter homes are virtually nonexistent. Legislative efforts, such as the 21st Century ROAD to Housing Act, aim to stimulate new construction, but potential market improvements may take years. Additionally, proposals to limit large investors from buying homes are gaining traction.
Read at SFGATE
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