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Americans React to Affordability Issues

home pricesAccording to a new nationwide survey conducted by Morning Consult on behalf of the National Association of Home Builders (NAHB), four out of five American households believe the nation is suffering a housing affordability crisis and at least 75 percent report this is a problem at the state and local level as well.

"Housing affordability is near a 10-year low and this poll confirms the challenges hard-working families face to keep housing within reach as rising costs continue to outpace wage growth,” said Greg Ugalde, NAHB chairman. “Policymakers must roll back inefficient zoning rules, costly impact fees and outmoded land development regulations that are driving up housing costs, contributing to the mounting lack of affordable housing and hurting middle- and low-income households.”

According to the NAHB, of the 19,800 adults surveyed, 80%  believe that a lack of affordable housing is a problem in the U.S. Additionally, 78% believe this is an issue in their state, while 75% cite housing affordability as a concern in their city and 76 percent say it is an issue in their county.

These percentages are up from a similar poll the NAHB conducted in November of last year. Nationwide, 73% of respondents reported at the end of last year that a lack of affordable housing is a problem, 68% said this is an issue in their state and 54% cited housing affordability as a concern in their neighborhood.

In the new poll, respondents expressed modest-to-strong support for several policy prescriptions put forth by various candidates for federal elected office, with 64% saying they would support a proposal to expand government programs to increase the supply of affordable rental housing. Another 62% said they would support a proposal to provide grants to families in areas historically affected by housing discrimination to assist with a down payment on a home, while 57% said they would support a proposal to increase taxes on the richest Americans to pay for construction and rehabilitation of more rental housing that is affordable to lower-income households.

About Author: Seth Welborn

Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer.

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