Home prices in the U.S. are on the rise again as of March 2025, with the median list price reaching $424,900—an increase of 6% from early 2025. This increase occurs amidst stagnant wage growth, with real wages only rising by 0.1%. The growing gap between rising home prices and low income growth, along with high borrowing costs, is deepening the housing affordability crisis. Factors such as a severe housing supply shortage, driven by zoning restrictions and high material costs, contribute to this issue, suggesting that action is needed to address the growing disparity.
The ongoing housing affordability crisis in the United States is worsening as home prices continue to rise far faster than incomes, leading to increased disparities.
A severe shortage of housing supply, compounded by zoning restrictions and high materials costs, has resulted in the U.S. having 4.5 million fewer homes than needed.
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