Single-family home construction starts enough for only six of 10 new households

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The gap between available housing and demand has caused an increase in home prices and rents.

June 30, 2016
Single-family home construction starts enough for only six of 10 new households

Photo: Montgomery County Planning Commission/Creative Commons.

Single-family home construction starts have only reached the pace of six homes per every 10 new households, according to the Urban Institute's Housing Finance Policy Center. The gap between available housing and demand has caused an increase in home prices and rents.

In order to meet demand, the Urban Institute said that housing policies must change to encourage more construction in low-supply areas, to make rents more affordable, and to encourage lenders to provide more mortgages to first-time homebuyers.

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