The Housing Shortage, Explained

住房短缺的解释

Fresh Air

艺术

2024-12-12

44 分钟
PDF

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The U.S. is short approximately 4 million homes. Wharton professor Ben Keys traces the beginning of the housing crisis to the 2008 financial meltdown — and says climate change is making things worse. Also, Justin Chang reviews the Iranian film The Seed of the Sacred Film. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy

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  • This is FRESH AIR.

  • I'm Tonya Mosley.

  • As we head into 2025, housing is still one of the most important issues on the minds of millions of Americans.

  • The dream of owning or even renting a place is in peril.

  • People are paying $1 million for starter homes.

  • New construction is moving at a snail's pace.

  • And the latest data shows that in 2023, home sales were the slowest in three decades.

  • Many homeowners aren't selling or upgrading because the market for getting into another house is just too high.

  • Renters aren't catching a break, either.

  • On average, they're spending 30% of their income on housing.

  • And that stat includes people who live in places that had the reputation of being more affordable, like the Midwest and the South.

  • Changes to our climate are also redrawing real estate maps, impacting where people can live and what they can afford.

  • President Elect Donald Trump says some of his plans to tackle the crisis include regulations on construction, opening up federal land for housing and mass deportation.

  • How feasible are these ideas?

  • And why is this such a dire moment in the housing crisis?

  • Well, our guest today to talk about all of this is Ben Keyes.

  • He's the Rowan Family foundation professor of real estate and finance at the University of Pennsylvania's Wharton School.

  • He's also a research associate at the National Bureau of Economic Research.