CNN —
Americans across the political spectrum can agree on this: Rent is expensive, and buying a home can feel nearly impossible.
America’s housing affordability crisis has a number of origins, but it largely stems from two key factors that you learned in Econ 101: supply and demand. The supply of homes on the market is extraordinarily low, as sellers hang onto their houses, waiting on the sidelines out of fear that historically high mortgage rates will make their next place to live too expensive. Demand exploded during the pandemic and it never slowed down, despite high
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