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Harvard JCHS: State of the Nation’s Housing Report 2024
Overview
The Joint Center for Housing Studies (JCHS) at Harvard University recently released The State of the Nation’s Housing 2024 report. This year’s report details some significant challenges confronting the U.S. residential housing market. These include increasing housing costs, record cost burdens for homeowners and low for-sale inventory, which has prompted buyers to seek new construction homes, however unaffordable.
Among other conclusions reached by the JCHS, homelessness is increasing, having reached a record high of 653,100 people in 2023, as is the frequency and severity of climate-change-driven disasters confronting many Americans. Roughly 60.5M housing units are located in an area with at least a moderate natural disaster risk.
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