Housing Shortage Disproportionately Affects Low- and Middle-Income Buyers in the US
The National Association of Realtors and Realtor.com have released a report stating that the US needs more homes that households at all income levels can buy to tackle the problems of low affordability and low housing supply. The report shows that home listings affordable for middle- and lower-income households are missing, with fewer homes available for middle-income buyers now than five years ago. In the Philadelphia metropolitan area, households making $50,000 faced the largest shortage of available home listings, with 3,440 listings affordable to buyers with this income missing in April.