Housing costs, regulation, and the promise of reform

Housing costs, regulation, and the promise of reform

Housing affordability is a pressing concern in cities across the United States. Rents have surged faster than general inflation in recent years, and the median price of an existing home surpassed $400,000 nationally in late 2024. Nearly half of renter households now spend over 30% of their income on rent (and a quarter spend over 50%), a level of cost-burden that was once rare. These strains intensified during the COVID-19 pandemic when low mort…

Where land-use regulations are driving up housing costs

President Donald Trump has made deregulation a policy pillar for his second term — and housing regulations are up for review. Homebuilders say that federal rules have driven up the cost of building a home. Many mortgage professionals want to release Fannie Mae and Freddie Mac from conservatorship. And there were no shortage of complaints about the Consumer Financial Protection Bureau (CFPB) under the Biden administration. But as it relates to ho…