At this year's South by Southwest festival, Realtor.com® hosted a series of panels addressing the U.S. housing crisis titled Let America Build. Industry leaders and policymakers discussed vital strategies for expanding home construction to tackle a shortfall of nearly 4 million housing units. Mayor Kirk Watson emphasized the urgent need for increased housing supply to retain residents and invited diverse populations. Realtor.com economist Danielle Hale spoke on how high home and rental prices compel many to delay independence, underlining the ongoing nature of the housing crisis requiring fresh solutions and perspectives.
"People want to be here. People want to move here. They want to stay here. If we don't have the housing supply, they will go elsewhere, or they won't come here in the first place, because they know they're not going to be able to stay."
"High home prices, high rental prices, a shortage of homes on the market for sale means that people decide not to strike out on their own, so they continue to live with their parents, or they take on roommates instead of going out on their own."
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