Trump Should Bring On a Great American Housing Boom

Most Americans, from both parties, say the government needs to increase the supply of affordable housing. For President-elect Donald Trump, that should offer a good opportunity to summon his instincts for development — and self-promotion — to get America building again. Call it the “Trump Building Boom.”

The problem is clear: For more than a decade, housing construction has failed to keep up with US population growth and household formation. This has helped drive a nearly 50% increase in the median sales price of houses and a similar jump in rents, outstripping an 18% gain in real median household income. The income required to afford a new single-family home is now almost twice what it was five years ago, and nearly half of renting households spend more than 30% of their income on rent. By some measures, homelessness is at a record level.