1058 ET - With a nationwide housing shortage of more than 4 million homes, affordability is becoming a growing concern for millions of Americans, Realtor.com says. "The only real solution to housing affordability is to build more homes, " said Damian Eales, CEO of Realtor.com. Some states are making progress, but too many others are stuck in a cycle of soaring housing costs and limited inventory. Only 18 states--primarily in the Midwest and South--can claim that their median home is affordable to their median earner based on the 30% of income rule. Meanwhile, just seven states--Texas, Florida, California, North Carolina, Georgia, Arizona and South Carolina--accounted for more than half of all construction permits issued in 2024. Many states are currently struggling with high housing costs and sluggish construction progress. (chris.wack@wsj.com)
(END) Dow Jones Newswires
April 24, 2025 10:58 ET (14:58 GMT)
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