Resources

OVERVIEW

Welcome to the Introduction to Housing Affordability page. Here you will find information related to the broad topic of housing affordability, how Ivory Innovations supports solutions that advance affordability, and insights on the topic.

Why Housing Affordability Matters | State of the Nation’s Housing | Insightful Resources | Useful Terms

Why Housing Affordability Matters

Rising costs are pricing many Americans out of their homes and preventing others from finding reasonable accommodations. These challenges are not only felt in San Francisco and New York, but also affect developing cities and suburbs like Salt Lake City and Denver. The U.S. Department of Housing and Urban Development (HUD) defines someone as cost-burdened when renting costs and other housing-related expenses exceed 30 percent of household income.

The cost of housing is rising and, as a result, many middle-class families are forced into lower-cost accommodations, decreasing the housing supply for low-income families. Initiatives to provide affordable housing – commonly understood as non-market, or subsidized, housing – are widespread. However, these efforts focus solely on low-income individuals and families, omitting a large portion of the population burdened by high housing costs.

State Of The Nation’s Housing

America’s housing crisis has been decades in the making. With rising home prices, stagnant wage growth, lower home inventory, and higher material costs, homeowners are faced with steeper entry costs than ever. The COVID-19 pandemic and events in 2020 further exacerbated a dire issue, putting attainable housing further out of reach for many and highlighting longstanding racial inequality issues.

The Harvard Joint Center for Housing Studies, one of Ivory Innovations’ partners, publishes an annual report detailing key housing affordability metrics and insights.

Insightful Resources About Housing Affordability

Check the videos below for some industry insights we’ve gathered on housing affordability.

Some Useful Terms to Know and Understand: