As inflation continues to rise, construction and labor costs are increasing alongside it, further intensifying the U.S. housing affordability crisis. Growing numbers of households are being priced out of both renting and homeownership, forcing some consumers to stretch beyond their budgets or relocate away from major urban centers altogether. Industry participants note that the crisis is not cyclical, but rather the result of deeper structural challenges tied to housing supply, regulation and affordability, requiring coordination between investors, developers and government entities to address.
While markets such as New York City and coastal California remain highly desirable, they continue to face some of the nation’s most significant housing supply constraints. As a result, some residents are relocating to more affordable areas, a trend that is also increasing commute
