- 07 Aug 2022 22:18
#15242117
That there has been an ongoing housing shortage in the West and the Northeast coastal areas of the U.S. is not news, but now the country's housing shortage seems to have spread to many parts of the Midwest and South.
Housing Shortage Seeping Into The Midwest And South - YouTube, NBC News, Aug 7, 2022
The nation is estimated to be short 3.8 million housing units to keep up with household formation.
As higher interest rates continue to throw cold water on what’s been a red-hot U.S. housing market over the past two years, there now appears to be an even deeper issue that's gaining more attention: a national housing shortage.
When working individuals and families pay a higher percentage of their income for housing, they are more vulnerable to housing instability or houselessness. For many people, limited housing affordability means traveling further to access jobs, education, and services. The additional time spent traveling means not only a decreased quality of life for residents, but also increased stress on our environment in the form of air pollution and congestion on highways, roads, and streets.
When Will It End? U.S. Housing Shortage Spreads From Coast to Coast | The National Interest, Ethen Kim Lieser, July 16, 2022
https://nationalinterest.org/blog/polit ... ast-203628
Is it time to cut off immigration? Too many people and population numbers that just keep continually growing at a high rate is going to lead to housing shortages.
If more and more houses keep having to be built, if there is a limited inventory of older previously existing homes, that is going to raise prices.
Some of this has to do with overcrowding in desirable areas too; there is limited land space to even be able to build more housing.
A lot of younger couples are finding themselves priced out of the housing market. Scarcity leads to increased prices. Only those who can pay the highest price will get the limited number of available houses.
There still does exist available housing stock in many parts of the Rust Belt, but those areas are very economically depressed. Not much good job opportunities and high unemployment rates. Also high crime rates in many cases because only the poorest stayed behind, which now makes others reluctant to move there.
Some communities oppose additional housing being built because their cities are already so overcrowded. They do not want to have to face additional traffic congestion on the roads, or see the limited open spaces that are left near where they live disappear. Some residents oppose high density housing developments because it will bring lower income groups who will bring crime to their city. (And yes, racial issues in America often play a role in this)
Housing Shortage Seeping Into The Midwest And South - YouTube, NBC News, Aug 7, 2022
The nation is estimated to be short 3.8 million housing units to keep up with household formation.
As higher interest rates continue to throw cold water on what’s been a red-hot U.S. housing market over the past two years, there now appears to be an even deeper issue that's gaining more attention: a national housing shortage.
When working individuals and families pay a higher percentage of their income for housing, they are more vulnerable to housing instability or houselessness. For many people, limited housing affordability means traveling further to access jobs, education, and services. The additional time spent traveling means not only a decreased quality of life for residents, but also increased stress on our environment in the form of air pollution and congestion on highways, roads, and streets.
When Will It End? U.S. Housing Shortage Spreads From Coast to Coast | The National Interest, Ethen Kim Lieser, July 16, 2022
https://nationalinterest.org/blog/polit ... ast-203628
Is it time to cut off immigration? Too many people and population numbers that just keep continually growing at a high rate is going to lead to housing shortages.
If more and more houses keep having to be built, if there is a limited inventory of older previously existing homes, that is going to raise prices.
Some of this has to do with overcrowding in desirable areas too; there is limited land space to even be able to build more housing.
A lot of younger couples are finding themselves priced out of the housing market. Scarcity leads to increased prices. Only those who can pay the highest price will get the limited number of available houses.
There still does exist available housing stock in many parts of the Rust Belt, but those areas are very economically depressed. Not much good job opportunities and high unemployment rates. Also high crime rates in many cases because only the poorest stayed behind, which now makes others reluctant to move there.
Some communities oppose additional housing being built because their cities are already so overcrowded. They do not want to have to face additional traffic congestion on the roads, or see the limited open spaces that are left near where they live disappear. Some residents oppose high density housing developments because it will bring lower income groups who will bring crime to their city. (And yes, racial issues in America often play a role in this)
- By Tainari88