Leading up to Inauguration Day, there are many issues for President-elect Trump to tackle. None are more pressing than affordable housing.
First off, mortgage rates have skyrocketed in recent years — from under 3 percent in 2020 to nearly 7 percent today. U.S. home prices have risen nearly 50 percent over the last four years, further pricing out potential homebuyers who can’t even afford once-attainable starter homes. Indeed, U.S. home sales have slowed to their weakest pace in almost 14 years.
Then there are renters. Tens of millions of Americans are now considered “rent-burdened,” spending more than 30 percent of their income on rent. Over 12 million Americans spend more than 50 percent of their income on rent, and the United States is short roughly 7 million affordable, available rental homes.
To read the Affordable housing is America’s top issue article go to https://thehill.com/opinion/finance/5050601-trump-affordable-housing-crisis/