The Harvard Joint Center for Housing Studies’ State of the Nation’s Housing 2025 report highlights mounting affordability pressures as high home prices, rising interest rates, insurance premiums and rents push home sales to a 30‑year low and burden a record number of households, particularly renters, with excessive housing costs. Despite a surge in multifamily development and inventory growth, supply remains misaligned with need, favoring higher-cost units while lower-rent stock continues to decline.
