All corners of the country have been hit by an historic housing crisis that has been percolating for years. Rents in many urban areas have trended dramatically upward in recent years, fueled by pandemic-related shifts in demand and a chronic undersupply of new construction.

Although the pandemic is largely over, the housing crisis shows no signs of relenting. And this crisis is worsening as real estate developers seem unable to increase the supply of new housing in amounts needed to meet demand, forcing rents ever higher.

A Sobering Shortfall of Housing