We Need More Houses. Here’s How We Can Build Them.
Housing supply isn’t keeping up with demand, and it’s holding back our economy and worsening inflation, write Suzanne P. Clark, Chamber President and CEO, and Brian Deese director of the White House National Economic Council.
Why it matters: “Employers are forced to operate below their potential because they can’t attract or retain workers,” they explain in the Wall Street Journal. “One study estimated that this misallocation could cost up to 2% of gross domestic product, or more than $400 billion a year in lost economic output. Housing costs also play a major role in inflation, making up the largest component of the consumer price index.”
Be smart: Clark and Deese lay out three ways government and the private sector can work together to increase the amount of housing in America.
Bottom line: “By addressing these issues and the regulatory barriers that impede the construction of new affordable homes, we can help bring down costs for families and speed economic growth,” Clark and Deese write.
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