A worsening affordable housing crisis

The U.S. currently faces a substantial housing deficit of3.9 million units, and the situation is deteriorating. By 2025, developers predict a significantdrop in affordable housing production, largely due to escalating costs and increasing interest rates. A "production cliff," caused by construction delays and setbacks, is expected to result in fewer new homes entering the market. There is also a severe lack of7.3 million rental homesaffordable for those with extremely low incomes. Additionally, nearly30 percentof American households consist of single individuals, a record high, which adds further pressure on the housing market.