A recent report by Realtor.com highlights significant disparities in housing affordability and construction activity among U.S. states. Those receiving an F grade, including California and New York, struggle with high home price-to-income ratios and are hindered by strict zoning regulations. This persistent lack of new construction plays a critical role in the nationwide housing supply gap, estimated at nearly 4 million units. The report emphasizes that without prompt action to boost home building, these states may drive residents to seek affordability elsewhere.
We know that the housing supply gap is not evenly distributed across the country, as states that received poor grades face affordability issues without increased home construction.
States that received poor grades are in danger of further exacerbating their affordability issues if they aren't able to start building more homes.
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