Rep. Josh Riley, D-N.Y., and Pat Harrigan, R-N.C., discuss ways both parties are trying to make the American dream achievable.

America is in the middle of a housing crisis, and it is not a mystery why. Home prices have surged far beyond wage growth, first-time buyers are locked out of the market and young families are increasingly forced to rent indefinitely or leave high-cost states altogether. This did not happen overnight, and it is the predictable result of decades of policy choices that made it harder and harder to build owner-occupied housing.

The data tells a clear story when viewed over time.

In 1950, the United States had 23.6 million owner-occupied housing units. By 2000, that number had climbed to roughly 70 million. That represents an increase of about 196% over 50 years. During that same period, the U.S. population grew from roughly 151 million to about 281 million, an increase of approximately 86%. For half a century, America was building owner-occupied housing at more than twice the rate of population growth. Housing supply was not merely keeping up with demand. It was staying well ahead of it.

That era is over.

CONSTRUCTION LABOR CRUNCH DRIVES UP COSTS AND DEEPENS AMERICA’S HOUSING AFFORDABILITY CRISIS

A row of houses in Hoboken, New Jersey, comes from an era when we built enough homes. (iStock)

At the end of the third quarter of 2025, the number of........

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