America needs to ‘build, baby, build’ to fix the housing crisis, Moody’s says

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Supply is the crux of housing woes—we’re missing millions of homes. Mortgage rates matter, too, but not nearly enough. A Moody’s economist, Nick Villa, has said it before: an interest rate cut won’t fix the housing crisis. 

Now that the Federal Reserve has cut its key interest rate by half a point, he’s saying it again, with a plan.