Housing Crisis Origins: The U.S. housing crisis originated from the 2008 financial crash, leading to a severe drop in home construction, which contributes to the ongoing shortage and rising prices. Increased housing development is essential for affordability.
The current housing crisis in the U.S. can be traced back to the 2008 financial crisis. Before this crisis, home builders were constructing around 2.2 million homes annually. However, as the economy collapsed, many builders went out of business and construction plummeted to just 600,000 homes. This drastic reduction is a key reason for the ongoing housing shortage and rising prices we see today. The challenges of young people purchasing homes and the growing frustration around housing costs have become central issues in political discussions. To address these problems, there is a strong call to increase home building in America to make housing more affordable for everyone.
Housing Crisis: The US housing market is in crisis due to underbuilding, increased demand from millennials, inflation, rising interest rates, and zoning restrictions, leaving millions of units short for buyers.
The housing market in the US is struggling due to a combination of factors stemming from the 2008 financial crisis. Homebuilders are not producing enough homes to meet increasing demand, exacerbated by millennials entering the market and changes in living situations. COVID-19 and inflation have added pressure, making homes less affordable than ever. As households become smaller and more people look for places to live alone, demand for housing has surged. Increased interest rates and zoning restrictions further complicate the situation. It’s a perfect storm of issues with millions of housing units still needed, making it increasingly difficult for potential buyers to find affordable homes.
Housing Crisis: The housing crisis, fueled by rising demand, is affecting even affordable cities like Kalamazoo, leading to skyrocketing prices and increased homelessness, and threatening the security of middle-income families.
Housing markets across the U.S. are facing severe challenges as the economic fallout from the pandemic combines with the preexisting issues from the financial crisis. Cities like Kalamazoo, once known for their affordable living, are now under pressure as increased demand drives prices up. Homes and rents are skyrocketing, making it difficult for even middle-income families to find affordable options. Communities that prided themselves on their cost-effective housing are now at risk of losing that status. As more people flock to these areas seeking cheaper living costs, the competition grows fierce, leading to rising homelessness and financial strain for families who were once secure. Overall, the situation highlights a troubling trend where even less expected cities are now experiencing the pressures of a national housing crisis, leaving residents worried about their future.
Housing Struggles: Barb's story illustrates how rising housing costs profoundly affect middle-class families, forcing them to cut back on living expenses and increasing financial stress. This scenario is common nationwide as many renters struggle with increased costs, highlighting housing as a key driver of inflation.
Barb and her husband are part of a growing number of Americans struggling with housing costs. After living comfortably in a low-rent duplex for years, unexpectedly having to move due to a landlord selling changed everything for them. They now pay much more for a manufactured home and stress over every expense, highlighting how many renters face similar challenges. Rising rents and property costs mean that even middle-class families, who used to feel secure in their budgets, are now burdened and worried about their finances. Housing costs are a big part of the inflation problems people are facing today, overshadowing other everyday expenses like groceries. This trend puts pressure on many families nationwide, significantly impacting their quality of life as they feel forced to work just to keep a roof over their heads. Without affordable options, many are left to choose between a decent living and financial peace.
Housing Solutions: To address the housing crisis, the government needs to reduce regulations and increase financial support for building affordable homes, as seen in Kalamazoo's expanded subsidies for a wider income range.
The housing crisis in the U.S. requires significant action to build more affordable homes. Simply lowering interest rates won't solve the problem, as it actually raises demand without increasing supply. Government intervention is essential. By easing building regulations and providing financial incentives to developers, we can promote the construction of middle-class housing. Cities like Kalamazoo are leading by example, expanding housing subsidies to cover a broader income range, allowing more people to qualify for assistance. This shift in focus means housing aid is not just for low-income families anymore, encompassing a wider demographic that includes middle-class households. For a lasting solution, we must rethink our approach to housing and prioritize building to meet real demand.
Housing Shortage Solutions: There’s a recognized housing shortage in the U.S. Both political sides propose different solutions, but long-term government investment is crucial to effectively tackle this issue and provide equitable housing access.
There's a significant housing shortage in the U.S., and it's acknowledged by both Republicans and Democrats, though their solutions differ. Efforts like subsidizing entry-level homes and reducing regulations are being proposed. However, overcoming this challenge will require a sustained, long-term commitment and substantial government investment, similar to post-World War II initiatives. Historically, the U.S. has shown it can address housing crises through a focused national effort, although today's political climate presents more challenges. Ultimately, housing is already heavily subsidized, so the key question is determining who gets the subsidies and in what way to ensure equitable access to affordable housing for all.
Housing Crisis: The US housing market is in crisis and needs immediate government intervention to prevent worsening conditions in the coming years.
The current US housing market is in crisis and requires urgent government intervention. This situation is serious and ongoing, with problems expected to worsen over the next few years, which will demand focused and sustained action from the government. Unlike issues that might fade over time, such as the federal deficit, the housing crisis is persistent and will not go away on its own. Thus, there is a strong case for the government to act decisively, especially since it has been subsidizing the housing market even during better times. Addressing this issue with attention and resources is crucial to avoid further repercussions as the market continues to struggle.
How the Cost of Housing Became So Crushing
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How NAFTA Broke American Politics
On the campaign trail, Donald Trump and Kamala Harris are constantly talking about trade, tariffs and domestic manufacturing.
In many ways, these talking points stem from a single trade deal that transformed the U.S. economy and remade both parties’ relationship with the working class.
Dan Kaufman, a contributing writer for The New York Times Magazine, explains how the North American Free Trade Agreement broke American politics.
Guest: Dan Kaufman, the author of “The Fall of Wisconsin,” and a contributing writer for The New York Times Magazine.
Background reading:
- How NAFTA broke American politics.
- Both Democrats and Republicans are expressing support for tariffs to protect American industry, reversing decades of trade thinking in Washington.
For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.
Soon, you’ll need a subscription to keep full access to this show, and to other New York Times podcasts, on Apple Podcasts and Spotify. Don’t miss out on exploring all of our shows, featuring everything from politics to pop culture. Subscribe today at nytimes.com/podcasts.
The Year Since Oct. 7
Warning: this episode contains descriptions of war and trauma.
One year ago, Israel suffered the worst terrorist attack in its history. The conflict that followed has become bigger and deadlier by the day, killing tens of thousands of people and expanding from Gaza to Yemen, Lebanon and now Iran.
Today, we return to two men in Israel and Gaza, to hear how their lives have changed.
Guests: Golan Abitbul, a resident of Kibbutz Be’eri, in southern Israel; and Hussein Owda, who was among more than a million people sheltering in Rafah.
Background reading:
- How Oct. 7 sparked a year of conflict.
- Listen to the first interview with Golan.
- Listen to the first interview with Hussein.
For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.
Soon, you’ll need a subscription to keep full access to this show, and to other New York Times podcasts, on Apple Podcasts and Spotify. Don’t miss out on exploring all of our shows, featuring everything from politics to pop culture. Subscribe today at nytimes.com/podcasts.
The Sunday Read: ‘The Blind Side’ Made Him Famous. But He Has a Different Story to Tell.
It was an overcast Monday afternoon in late April, and Michael Oher, the former football player whose high school years were dramatized in the movie “The Blind Side,” was driving Michael Sokolove on a tour through a forlorn-looking stretch of Memphis and past some of the landmarks of his childhood.
In the movie, Oher moves into the home of the wealthy white couple Leigh Anne and Sean Tuohy. They take him shopping for clothes, help him obtain a driver’s license, buy him a pickup truck and arrange for tutoring that helps improve his grades and makes him eligible to play college football. In real life, Oher went on to play eight seasons as a starting offensive tackle in the N.F.L. and won a Super Bowl with the Baltimore Ravens.
Now, Oher is suing the Tuohys, claiming that they have exploited him by using his name, image and likeness to promote speaking engagements that have earned them roughly $8 million over the last two decades — and by repeatedly saying that they adopted him when they never did.
Soon, you’ll need a subscription to keep full access to this show, and to other New York Times podcasts, on Apple Podcasts and Spotify. Don’t miss out on exploring all of our shows, featuring everything from politics to pop culture. Subscribe today at nytimes.com/podcasts.
'The Interview': Al Pacino Is Still Going Big
Four Weeks to Go
With Election Day fast approaching, polls show the race between Vice President Kamala Harris and former President Donald J. Trump to be the closest in a generation.
The Times journalists Michael Barbaro, Shane Goldmacher, Maggie Haberman and Nate Cohn break down the state of the race and discuss the last-minute strategies that might tip the scales.
Guest:
- Shane Goldmacher, a national political correspondent for The New York Times.
- Maggie Haberman, a senior political correspondent for The New York Times.
- Nate Cohn, the chief political analyst for The New York Times.
Background reading:
- The state of the race: a calm week and perhaps the clearest picture yet.
- Scenes of workers on strike, hurricane devastation in the Southeast and missiles over Israel pose tests for Ms. Harris.
For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.
Soon, you’ll need a subscription to keep full access to this show, and to other New York Times podcasts, on Apple Podcasts and Spotify. Don’t miss out on exploring all of our shows, featuring everything from politics to pop culture. Subscribe today at nytimes.com/podcasts.
Iran Retaliates
Israel’s series of military successes against its longtime adversary Hezbollah had raised the question of whether the militant group’s backer, Iran, would retaliate. On Tuesday, that question was answered, when Iran fired a barrage of missiles at Israel.
Patrick Kingsley, the Jerusalem bureau chief for The Times, and Farnaz Fassihi, The Times’s United Nations bureau chief, discuss how they see events developing from here.
Guest:
- Patrick Kingsley, the Jerusalem bureau chief for The New York Times.
- Farnaz Fassihi, the United Nations bureau chief for The New York Times.
Background reading:
- Fiery balls of light could be seen falling from the sky over Jerusalem and loud explosions could be heard in Tel Aviv and other areas as Iran launched 180 ballistic missiles at Israel.
- After the missile attack, Israel may be more prepared to risk war with Iran.
For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.
Soon, you’ll need a subscription to keep full access to this show, and to other New York Times podcasts, on Apple Podcasts and Spotify. Don’t miss out on exploring all of our shows, featuring everything from politics to pop culture. Subscribe today at nytimes.com/podcasts.
The Walz-Vance Debate: Civility and Then a Clash
Just three weeks after Kamala Harris and Donald J. Trump engaged in a fiery and often hostile presidential debate, their running mates, Tim Walz and JD Vance, met for their own face-off — and struck a very different chord.
Reid J. Epstein, a politics reporter for The Times, explains why this debate was so different and what it could mean for the race.
Guest: Reid J. Epstein, a politics reporter for The New York Times.
Background reading:
- Read coverage of the debate.
- Analysis: Mr. Vance strained to sell a softer image of Mr. Trump.
For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.
Soon, you’ll need a subscription to keep full access to this show, and to other New York Times podcasts, on Apple Podcasts and Spotify. Don’t miss out on exploring all of our shows, featuring everything from politics to pop culture. Subscribe today at nytimes.com/podcasts.
Hurricane Helene’s 600 Miles of Destruction
Warning: This episode contains strong language and descriptions of death.
Over the past few days, Hurricane Helene has left a trail of devastation, killing more than 100 people, driving thousands from their homes and leaving millions without power.
Judson Jones, a meteorologist and weather reporter for The Times, and Nicholas Bogel-Burroughs, a Times national reporter, discuss the toll left by the deadly storm.
Guest:
- Judson Jones, a meteorologist and reporter for The New York Times.
- Nicholas Bogel-Burroughs, a national reporter for The New York Times.
Background reading:
- Hurricane Helene spawned flash floods and landslides as it barreled north after devastating parts of Florida’s Gulf Coast.
- In less than a day, Helene transformed from a Category 1 hurricane to a Category 4. Read about how that happened so quickly.
For more information on today’s episode, visit
. Transcripts of each episode will be made available by the next workday.
Soon, you’ll need a subscription to keep full access to this show, and to other New York Times podcasts, on Apple Podcasts and Spotify. Don’t miss out on exploring all of our shows, featuring everything from politics to pop culture. Subscribe today at nytimes.com/podcasts.
Alliance vs. Isolation: Harris and Trump’s Competing Views on Foreign Policy
As wars in Ukraine and the Middle East deepen, the U.S. presidential campaign is raising a crucial question: Whose idea of American foreign policy will the world get next?
Peter Baker, the chief White House correspondent for The Times, walks us through the plans put forward by Kamala Harris and by Donald J. Trump.
Guest: Peter Baker, the chief White House correspondent for The New York Times.
Background reading:
- Ms. Harris met with Ukraine’s president, Volodymyr Zelensky, signaling that the White House was preparing her to take over a thorny diplomatic relationship.
- Mr. Zelensky also met with Mr. Trump as concerns mount in Kyiv that a second Trump administration could spell the end of American support against Russia.
For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.
Soon, you’ll need a subscription to keep full access to this show, and to other New York Times podcasts, on Apple Podcasts and Spotify. Don’t miss out on exploring all of our shows, featuring everything from politics to pop culture. Subscribe today at nytimes.com/podcasts.
The Deserter: Parts 4 and 5
In “The Deserter,” Sarah A. Topol reports the story of Ivan, a captain in the Russian Army who fought in Ukraine and then ultimately fled the war and his country with his wife, Anna. Topol spoke to 18 deserters while reporting in eight countries across four continents over the last year and a half; their experiences helped paint a vivid picture of the Russian war operation and its corruption, chaos and brutality.
Narrated by Liev Schreiber.
“The Deserter” is a five-part special series in collaboration with The New York Times Magazine.
All five parts of this audio feature can be found here or by searching for “The Deserter” on the NYT Audio app or wherever you get your podcasts.
The text version of the story can be found here.
Soon, you’ll need a subscription to keep full access to this show, and to other New York Times podcasts, on Apple Podcasts and Spotify. Don’t miss out on exploring all of our shows, featuring everything from politics to pop culture. Subscribe today at nytimes.com/podcasts.