Annual Harvard Report Frames the Nation’s Housing Challenges

Rising home prices, tight supply, and eviction or foreclosure risks are key challenges for households.

By Christine Serlin

As the economy continues to recover from the COVID-19 pandemic, Americans are struggling with soaring home prices, affordability issues for both renters and homeowners, and the potential risk of evictions and foreclosures, according to “The State of the Nation’s Housing 2021” from Harvard’s Joint Center for Housing Studies (JCHS).

While the government has taken steps to bolster Americans and the economy, additional support will be necessary to ensure that all households benefit from the expanding economy, according to JCHS.

“For those households with secure employment and good-quality housing, their homes provided a safe haven from the pandemic,” says managing director Chris Herbert. “But for millions struggling to cover the rent or mortgage, their housing situations have become increasingly insecure, and these disparities are likely to persist even as the economy recovers, with many lower-income households slow to regain their financial footing.”