The pandemic pushed the U.S. housing market into a frenzy, with the demand for housing far outpacing the number of homes on the market. The market cooled off a bit in July.
But the cost of the average home has been on an upward climb for a while now, even before the pandemic, rising more than 50 percent between 2012 and 2019. That’s priced many Americans who’d like to buy out of the market. Renting is even worse. A recent report showed the typical minimum-wage worker cannot afford the rent of a two-bedroom apartment anywhere in America.
Host Chris Farrell talks with an academic who studies housing policy and a real estate agent about possible solutions for the lack of affordable housing.
Jenny Schuetz is a senior fellow at the Brookings Metropolitan Policy Program and an expert in urban economics and housing policy.
Lisa Grant is a real estate agent with experience buying, selling, renting, repairing and renovating homes. She is the owner of See Wee Homes, a real estate brokerage in Charleston, S.C.
Use the audio player above to listen to the full conversation.
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