The U.S. housing market is shaped less by an overall shortage of units and more by a persistent mismatch between the types and locations of housing and the evolving needs of households, according to Principal Asset Management’s Rich Hill in a recently white paper, America’s Housing Opportunity: Beyond the Supply Gap.
Renting, which accounts for roughly 35 percent of households, is a central feature, but it extends far beyond the traditional class A apartments that dominate new construction, encompassing single-family rental homes, manufactured housing, as well as senior and student living options. Across U.S. housing markets, some cities cater effectively to middle-income households but offer limited options for lower-income renters, while others prioritize affor
