Executive Summary - Housing

We want afordable, good-quality, available housing. (Click on the subtitle for greater detail.)

The Problem

Housing Affordability

Indicator	United States
Median Existing-Home Price, 2024	~$408,000
Median New-Home Price, 2024	~$420,000
Median Household Income, 2024	~$84,000
Price-to-Income Ratio	~5.0
Rent-Burdened Renters	~49-50%
Severely Rent-Burdened Renters	~26-27%

Sources: U.S. Census Bureau, National Association of
Relators, Harvard Joing Center for Housing Studies.

Housing Supply Shortage

Indicator	United States
Housing Shortage	~3-4 million homes
New Homes Built (per year)	~1.4 million
Needed to Stabilize Prices	~2+ million per year

Sources: Freddie Mac and housing policy research groups.

Homelessness

Indicator	United States (USD)
Homeless Population, HUD 2024 PIT	~771,000
Unsheltered Homeless, HUD 2024 PIT	~274,000
Unsheltered Share	~36%
Increase Since 2019	~36%

Source: U.S. Department of Housing and Urban Development.

International Comparison

Countries such as Germany, Japan, Austria, the Netherlands, and Singapore use different housing-policy models – including renter protections, flexible zoning, social housing, housing associations, and public housing – to reduce housing instability. Purchase-price affordability varies by country and should be compared carefully because international price-to-income measures differ by source and method.

Country	Purchase Affordability Signal	Housing Model
United States	High affordability pressure; exact ratio depends heavily on source	Market-driven
Germany	Stronger renter protections; purchase affordability still pressured	Renter-protection model
Japan	More supply-responsive land-use system	Flexible zoning / high supply
Austria	Major social and limited-profit housing sector	Social housing model
Netherlands	Large housing-association sector	Social-rental / association model
Singapore	High purchase-price ratio for private housing; broad public housing access through HDB	Public housing model

What High-Performing Countries Do Differently

Policy Tool	Example Country
National housing strategy	Austria
Flexible zoning laws	Japan
Large social housing sector	Netherlands
Government-built homes	Singapore
Strong renter protections	Germany

These systems treat housing as critical national infrastructure, not purely a private market commodity.

The Solution

Key Metrics

Metric	Target
Price-to-Income Ratio	≤ 3.5
Housing Shortage	0 units
Rent-Burdened Households	< 20%
Homeless Population	Declining Annually
New Housing Units Built	≥ 2 million/year
Affordable Housing Share	≥ 20%

What You Can Do

Next: Problems
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