The rising tide of awareness of the housing crisis is not without warrant, there is a growing level of houselessness plus ever-growing research about the best methods to handle housing shortages. According to CNBC (“America is short more than 5 million homes, and builders can’t make up the difference” Olick), America has over 5 million single-family houses less than needed. This is not due to a lack of demand for housing, but rather, as Bokat-Lindell proposes in a NY Times article, a conflict between those in a position to continue making money from property and those who are trying to build more.
With rising housing prices, the gap is furthering between those capable of obtaining property and those who are experiencing the consequences of a lack of action. This brings up the importance of policies and implementations of eviction bans and affordable pricing in whatever plan or policy that would be enacted to aid houselessness. Studies have looked at rent increases across the world and the US continues to see the highest percentage raises of rent, even when compared with one of the most population-dense cities in the world (Tokyo). Such increases only worsen the housing crisis that the US sees itself in now, a rather horrifying loop of unavailability and unaffordability.
While the arguability for what exactly started the housing crisis is significant, and many could probably argue the cause of the continuation of it, the point remains that it exists. There are several projects pushing for a solution or aid to the crisis, some are pushing for more housing (with several taking into account the climate crisis and arguing for sustainable housing being our only construction from here on out) and other programs are pushing for tenant aid in the face of a lack of buyable property. Both are extremely important in the long run, as renting will never go extinct, but there are also not enough houses on the market that everyone can afford.
Begin here to learn a bit more about the arguments for and against building more houses -click here->
The housing crisis does not simply start at a lack of houses and a lack of affordability. Some of those who were able to witness the housing bubble in 2007 are beginning to worry, but not everyone has the same opinion. Isidore writes in a CNN article that there are patterns of what occurred with housing predictions in 2005 and what is occurring now, including many contradicting studies and opinions regarding whether America is in for another housing bubble.
One expert even has the opinion that our current housing increases are higher than what we may need, a clear contradiction with what many articles and studies have been noticing (as briefly summarized above). One of the particularly saddening statistics is that the year-by-year increases in housing costs increased to 19.9%, a clear and significant increase compared to the 14.4% in 2005. The housing crisis has already begun a massive swell that has caused worry, yet there are still the continued patterns of optimism that the housing economy in America will level out and stabilize.
Whether there is a housing bubble in the near future is practically impossible to accurately predict, the signs that are already present are worrying enough to warrant a call to action. Manual input must occur for there to be the hope of stability as well as fair housing for everyone, but how it will be handled remains to be seen.
Isidore’s CNN article, summarizing the current opinions of a housing bubble -click here->
Experts believe the housing situation is a good increase, rather than a bubble
For COVID-19 related renting assistance (Oregon specifically):
Veteran-focused shelters and long term housing programs (creators of header image)
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