When I was growing up in New York, I took a trash bag with my clothes to school because my mother was worried that the lock on our door would be changed and we would end up on the street without warning. Housing insecurity is a global crisis that transcends national wealth or geography. Today millions of families and children face, just as I did, housing insecurity. Research has shown that stable housing is crucial for health, education, employment and intergenerational prosperity.
Housing insecurity is not just a big city problem. The United States is short of at least 3.8 million homes, which has caused a surge in rents and purchase prices that far exceeds wage growth. This housing crisis affects us all – people who find themselves homeless, young adults who cannot afford to leave their parents’ homes, families who are crammed into cramped apartments.
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Racism, bureaucracy and real estate conservatism
Many factors contribute to this situation.