The U.S. Conference of Mayors reported a severe housing shortfall, with mayors warning of a worsening deficit that could exceed two million units in five years.
A staggering 42% of households now spend more than 30% of their income on housing, indicating a critical affordability crisis affecting millions.
Mayors across the U.S. emphasize that federal inaction will further deteriorate the housing crisis, calling for more flexible funding and expansion of housing programs.
The median rental price surged 18% in the past three years, while the median sale price rose by 21%, showcasing the unsustainable housing cost trajectory.
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