Template-Type: ReDIF-Paper 1.0
Title: Improving Housing Affordability
Author-Name: Benjamin Keys, Vincent Reina
Abstract: US households face unprecedented challenges related to the high cost of
  housing. In this paper, we characterize the affordability crisis, assess
  the primary drivers of unaffordable housing, and offer potential policy
  solutions. We argue that several distinct housing-market
  challenges—including financing gaps, local restrictions that make it
  difficult and/or costly to build, and a lack of an entitlement
  program—present distinct challenges to both an adequate and an
  affordable housing supply. Importantly, though, the impact of these
  features becomes more dramatic during economic downturns. Our current
  national housing challenges are a product of longstanding structural
  challenges that were amplified by an unprecedented lack of building
  after the 2008 financial crisis. As a result, the policy recommendations
  sit within a broader series of reforms and policy solutions that ensure
  that housing supply meets demand, and that affordability is not
  compromised, during all periods of the economic cycle.
Creation-Date: 2025-11-01
Keywords: housing, urban economics
File-URL: https://www.economicstrategygroup.org/wp-content/uploads/2026/06/Improving-Housing-Affordability.pdf
File-Format: Application/PDF
Handle: RePEc:cxx:wpaper:improving-housing-affordability