Home Real Estate The U.S. housing crisis likely will worsen after the pandemic, reports find

The U.S. housing crisis likely will worsen after the pandemic, reports find

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NEW YORK — Two studies released Wednesday found that the nation’s housing availability and affordability crisis is expected to worsen significantly following the pandemic, likely widening the housing gap between Black, Latino and white households, as well as putting homeownership out of the reach of lower class Americans.

Both reports call for government action through traditional measures such as down-payment assistance and a massive increase in homebuilding to address the issue.

The reports by Harvard University and the National Association of Realtors come from different perspectives, but ultimately reach the same conclusion: the United States isn’t building enough housing to address population growth, causing record low home availability, and rising home prices are putting homeownership out of reach of millions of Americans.

Without substantial changes in homebuilding and home affordability, both reports say, the result will be a more-or-less…

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