"When demand for other consumer products comes up, or when it increases, it's usually not too hard for people to scale up supply," Brannon said.
Moreover, the current housing affordability makes 64.2% of owners and renters have negative feelings about the economy, Redfin found.
In fact, affordable housing is a pressing topic for both liberal and conservative voters: the topic is ranked as No.
1 for liberals while it's No.3 for conservatives, according to a separate survey by The Real Estate Witch.
To address the issue, President Biden announced in early March as part of his budget for fiscal 2025, a plan to cut housing costs, boost supply and expand access to affordable housing.
Persons:
Brannon, Kirabo Jackson, Qualtrics, Redfin, it's, doesn't, Brennon, Biden
Organizations:
Westend61, U.S . Census, White House Council, Economic Advisers, CNBC
Locations:
U.S