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The Housing Shortage is Killing the American Dream

Posted by Sami Thalji | Sep 07, 2021 | 0 Comments

America's real estate boom is leaving behind one market that used to define the American dream: small entry-level homes. In 1982, small entry-level homes made up 40% of the country's new construction. By 2019 that number has fallen to just 7%. This presents a major problem for wealth building for the great majority of Americans. Home equity used to be the best way to build wealth. Unfortunately, with large investors and hedge funds buying up much of the market, the dream of wealth building is dying for most Americans. Some of the reasons for the lack of affordable housing include, short term increase in the price of building materials. Rising labor costs and zoning restrictions preventing increased housing density. This has led to an increase in land values which has effectively priced out starter homes. The lack of affordable, entry level housing is a major problem for our economy and the future of this country. The inability to build wealth and raise families in stable environments will lead to greater wealth disparities with ever shrinking number of every day Americans that will be able to keep their heads above water. 

About the Author

Sami Thalji

Sami Thalji is a native Floridian, born in Clearwater and raised in St. Petersburg, Florida. Sami graduated from Osceola High School in Seminole, Florida before attending and receiving both his Bachelor of Science and Juris Doctor from the University of Florida in Ga...

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