Half of cities don't have enough homes, new study finds

A new study has found that more than half of metropolitan areas in the U.S. were undersupplied with homes in 2019. This has led to home prices surging and consequentially exacerbating both racial and income inequality. CBS News MoneyWatch reporter Aimee Picchi joins CBS News' Elaine Quijano and Christina Ruffini to discuss the alarming new analysis.

#news #homes #realestate

[profoundclarity]

We are doomed and just don't know it...65% live pay to pay...median home cost has doubled in 20 years...

[sandels]

People cant afford homes thanks to corporations that pay so low. Work for subway 10nyears and see if you can afford a home. Apartments going up everywhere people paying a absurd prices because they cant afford a house.

[daydreonmckinney]

Corporations are buying up affordable homes and that is causing a lot of homeless. Corporations don't rent for the existing prices. They raise the rent at least twice as much as before.

[Mary-iomb]

I am glad she highlighted that stark difference of 40% to 70% of home ownership between black and white Americans respectively. This problem has been going on for centuries. Hard working law abiding Black people, who want to buy are locked out of the home buying process due mostly to racism. Or black homeowners are most likely to be victims of foreclosures due to PREDATORY LENDING. This needs to change. Am hopeful that the tides will eventually swift to favor WHOEVER, REGARDLESS OF RACE, can purchase a home.

[speedracer]

Maybe if investors weren’t allowed to gobble up every open property to turn into air bnb or rentals, we wouldn’t be here

[paxundpeace]

The issue is the US hasn't been building enough housing at all.

One big issue is zoning.
In one part of the city only single family homes are allowed and in the city center only towers.

[punapeter]

SAVE, pay CASH, don't use a bank, best advice.

[AKAAAK]

On top of no room to build in these metropolitan cites. You have to move to Timbuktu to even consider living near a big city. Save your dollars cuz prices will continue to slowly go up over the years. Prices now are exaggerated but will level out but from there prices with slowly climb YoY.

[retired]

why would anyone pay 3 times a homes worth/cost to go into debt? people sure are stupid, so play the game and get what you win.

[MrTheguywiththemoney]

And birthrates are dropping... I wonder whos living in these homes...🤔

[pissedoffpennsylvanian]

Investors are the biggest main problem! Then zoning laws are ridiculous and third “Income Disparities”…. That’s in major cities as well as rural! You can’t afford to live in the country either!

[MountainRancher]

Build your house. It’s not that difficult