The Rising Cost of Homeownership in America's Metros and Cities.

The US housing market is experiencing a perfect storm of high demand, low inventory, and rising costs, making it increasingly difficult for Americans to afford homes or rentals. Millennials entering the market, investors buying up properties, low mortgage interest rates, and a shortage of new construction have all contributed to skyrocketing home prices. This has left many potential buyers locked out of the market and forced renters to pay more than 30% of their income on rent and utilities, making them "cost-burdened." The widening gap of homeownership and wealth has also disproportionately affected non-white Americans. While the federal government passed measures to help renters during the pandemic, these have since been rolled back, leaving many struggling to afford housing.