Housing Affordability Believed to be a Growing Crisis Among Americans
September 11th, 2019 by EditorFour out of five American households believe the nation is suffering a housing affordability crisis and at least 75% report this is a problem at the state and local level as well, according to a new nationwide survey conducted by Morning Consult on behalf of the National Association of Home Builders (NAHB).
“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 and a home builder and developer from Torrington, Conn.
An August-survey of more than 19,800 adults across partisan, regional, demographic and socio-economic categories assessed the public’s attitude on whether a lack of affordable housing is a problem in their neighborhoods, cities, states and nationwide.
Key findings show that:
- 80% believe it is a problem in the U.S.;
- 78% in their state;
- 75% in their city and
- 76% in their county.
In comparison to a similar poll conducted in November 2018, the attitude continues to worsen. The number of participants last year that believed lack of affordable housing was a problem was 73% nationwide, 68% in their state and 54% cited in their neighborhood.
The poll also surveyed opinions on potential solutions to the housing affordability problem. There was moderate-to-strong support for several policies prescriptions put forth by various candidates for federal elected office.
64% supported a proposal to expand government programs to increase the supply of affordable rental housing. 62% supported a proposal to provide grants to families in areas historically affected by housing discrimination to assist with a down payment on a home. And 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.
“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,” Ugalde said.
More than half of the respondents agreed with Ugalde’s sentiment.
The poll is also consistent with the latest findings from NAHB’s Housing Trends Report for the second quarter of 2019, which finds that 80% of buyers say they can afford to purchase fewer than half of the homes available in their local markets.