America Still Doesn’t Have Enough Homes

Rent inflation has fallen to a five-year low—but that may not mean housing is becoming more affordable. In this episode of The States, Greg Bishop speaks with Center Square publisher Chris Krug and PhD economist Orphée Vungi about the real state of the U.S. housing market. While government inflation data shows rent growth cooling, the underlying housing market tells a more complicated story. Builders have pulled back, housing inventory remains well below pre-pandemic levels, and the national shortage of available homes continues to put pressure on both renters and prospective homebuyers. The result could be higher rents and home prices ahead, even as headline inflation appears to improve. We break down what the latest housing data means for renters, first-time homebuyers, mortgage costs, inflation, and the financial pressure facing American households and taxpayers. Topics covered: • Rent inflation and the CPI • Housing supply and demand • The national housing shortage • Home prices and affordability • First-time homebuyers • Mortgage rates • New home construction • Housing inventory • Inflation and the economy Subscribe to The States for more reporting and analysis on the economy, taxes, government spending and the issues affecting American taxpayers.