America’s housing crisis worsens as costs surge and supply dwindles
America’s housing crisis has deepened over the past decade, with rising costs and a shrinking supply of homes. Despite repeated calls for action, construction levels remain far below pre-2008 figures. Now, policymakers and experts are debating new solutions to address the growing shortage.
Since the pandemic, home prices have soared by over 50 percent. At the same time, the median age of first-time buyers has climbed from 31 in 2014 to 40 in 2025. A third of households now spend more than 30 percent of their income on housing, straining budgets across the country.
The housing gap continues to widen, with construction failing to meet demand. Rising costs and an ageing pool of first-time buyers highlight the urgency of the problem. Without significant changes, the shortage—and its financial burden on households—is likely to persist.
