There’s at least one thing most Americans can agree on, no matter where they live or who they vote for: home prices are too high. There are some signs relief is coming, particularly after the long-awaited rate cut by the Federal Reserve in September. Still, Fed Chair Jerome Powell has said the crux of the country’s housing crisis is a supply issue—something the central bank can't address.
To put it plainly, there are just not enough homes to go around. The issue has, unsurprisingly, become a major theme on the presidential campaign trail. Vice President Kamala Harris is calling for subsidized construction and expanding assistance to first-time homebuyers. Donald Trump has promised to get rates lower, reduce red tape, and crack down on immigration to reduce competition for scarce homes.
