Housing, even though it is a basic human need, is often not met, and we are facing an increasing shortage of apartments as demand exceeds the supply. Further, the lack of affordable housing has immense consequences. First, it fuels the global housing crisis; because of high housing costs, people have less money for other essentials (groceries, bills, transportation, and taking care of their family). In addition, unaffordable housing encourages homelessness.
According to Kevin Erdmann, the author of "Shut Out" and "Building from the Ground Up," the housing crisis was caused by too little housing rather than too much housing.
In this episode of Signals, Kevin gets into the lack of supply in the housing market and the economy, in general. He also explains his framework for understanding this issue. Kevin and our host Nick Mazing discuss the housing crisis, how housing has changed since the Great Recession and the housing market's problems.
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