I’m pretty sure this is what you were listening to, and yeah it’s a pretty bleak situation:
2024 saw one of the slowest housing markets in 30 years. What will 2025 bring? https://www.npr.org/2024/12/29/nx-s1-5240991/2024-saw-one-of-the-slowest-housing-markets-in-30-years-what-will-2025-bring
The only glimmer of hope seems to be in cities that have put effort into building more homes. Capitalism isn’t going to solve this, because it only gets “luxury” housing built for the Haves.
One thing that is helping in California is the Builder’s Remedy Law projects, where, in cities that haven’t come up with a legit plan to create more affordable housing by the deadline, (usually because they don’t want Poors living there) developers can create huge new projects that don’t have to conform with the existing (overly restrictive and often based on redlining) zoning laws as long as they include 10% low-income units.
Oh I agree. It really requires -supported affordable housing. Although the best results come from integrating low-income units into mid-price housing so people can be near jobs and have decent groceries etc. Also mixing mid-price housing into high-end neighborhoods so the people who provide services can also live near where they work.
The real problem is landlords who’d rather sit on empty homes than lower the rent. And collude to keep rents inflated.