WASHINGTON, DC — Four out of five American households believe that the nation is suffering a “housing affordability crisis,” and at least 75% believe that this is a problem at the state and local level as well, according to a new nationwide survey conducted by the National Association of Home Builders.
“Housing affordability is near a 10-year low and this poll confirms the challenges hard-working families face to keep housing within reach as rising costs continue to outpace wage growth,” said Greg Ugalde, NAHB chairman. “Policymakers must roll back inefficient zoning rules, costly impact fees and outmoded land development regulations that are driving up housing costs, contributing to the mounting lack of affordable housing and hurting middle- and low-income households.”
More than 19,800 adults were surveyed in August to assess the public’s attitude on whether a lack of affordable housing is a problem in their neighborhoods, cities, states and nationwide.
A similar poll conducted late last year reveals that the housing affordability situation is worsening. Nationwide, 73% of respondents reported at the end of last year that a lack of affordable housing is a problem, 68 percent said this is an issue in their state and 54 percent cited housing affordability as a concern in their neighborhood.
The poll is consistent with the latest findings from the NAHB’s “Housing Trends Report” for the second quarter, which found that 80% of surveyed buyers said they can afford to purchase fewer than half of the homes available in their local market.