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Housing access is an essential component of daily life, yet issues in housing are at the forefront of current policy considerations. Today, there is a deficit of an estimated 7 million affordable housing units across the U.S. For those able to more easily afford housing, the average sales price has increased from $383,000 in 2020 to $516,500 at the beginning of 2023, an increase of nearly 35%, falling from a historic high of $552,600 at the end of 2022. This has, in turn, also impacted rental prices, with the average increasing 18% between 2021 and 2022. As a result, the average rent-to-income ratio for renters stands today at 45% – a massive increase from 22.85% in 2012.

In this webinar, Jack Hausler and Aniruddh Ajila will outline how various factors, including market forces, industry activities, and zoning regulations, have contributed to historical and recent housing pricing trends. Using the REMI PI+ model, they will investigate the benefits and costs of possible policy responses to these trends.