America’s housing crisis is bananas

This country had a housing problem before the pandemic. But there were real bananapants in the middle of it.

A big part of why we’re in this mess comes down to supply and demand. There simply aren’t enough houses to go around, driving up prices. Home prices are up 20% from last year, and experts say we need 6.8 million units to meet demand.

So if it’s a supply problem, why can’t we just build more houses?

“Builders like to talk about the three Ls that go into housing: land, labor and wood. And all of those things are harder to get. And more expensive,” said Amy Scott, senior Marketplace correspondent who covers housing.

On today’s show: Amy explains how we got here and why solving the housing shortage is a lot more complicated than it seems.

In the News Fix, as the Jan. 6 committee prepares for public hearings this week, authorities continue to make arrests in connection with the attack on the Capitol. Moreover, we are talking about stagflation.

Next, we will hear from an educator rethinking the teaching profession. And who knew so many of you loved popcorn? !

Here’s everything we talked about today:

When you’re done listening, send us your answer to the “Make Me Smart” question. We are at makemesmart@marketplace.org and (508) 827-6278 or (508) UB-SMART.

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