A report released on Wednesday (6-16-21) by the Harvard Joint Center for Housing Studies (JCHS), titled “The State of the Nation’s Housing 2021,” reveals that as the U.S. economy continues to recover from the effects of the pandemic, households that weathered the crisis without financial distress are snapping up the limited supply of homes for sale — pushing up prices and further excluding less affluent buyers from homeownership.
At the same time, millions who lost income are behind on housing payments and on the brink of eviction or foreclosure. The report points out that a disproportionately large share of at-risk households are those with low incomes and people of color. The reports notes that while policymakers have taken bold steps to prop up consumers and the economy, additional government support will be necessary to ensure that all households benefit from the expanding economy.
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JCHS Releases 2021 State of the Nation's Housing Report