Brick row houses with black fire escape.
Brick row houses with black fire escape.
July 10, 2019

Housing affordability: An American crisis

The lack of affordable housing in the U.S. is putting millions of people at the edge of crisis. Too many Americans are spending more than 50% of their income to keep a roof over their heads, experts say, and the crisis is costing the U.S. economy billions each year.

Explore the series | Wells Fargo recently committed $1 billion by 2025 to help solve the nation’s housing affordability challenges. In this special series, Wells Fargo brings together problem solvers to discuss the housing affordability crisis in America — and how to bring about systemic change.

Leading experts discuss the U.S. housing affordability crisis and potential solutions. (12:58)

Meet the experts

Photo of Marc H. Morial with this quote: We had a foreclosure crisis ten years ago. Now we have a bit of an affordability crisis. -- Marc H. Morial, President, National Urban League; Mayor, New Orleans, 1994-2002
Photo of Cerita Battles with this quote: Income is not rising at the same pace as some of the cost for homes, and so therefore you have a gap. -- Cerita Battles, Wells Fargo Home Mortgage
Photo of Mark Vitner with this quote: Housing has become less affordable for a wide segment of the population. -- Mark Vitner, Wells Fargo senior economist
Photo of Keith Fairey with this quote: We see far too many households, over 11 million renter households, severely cost burdened. -- Keith Fairey, Enterprise Community Partners, national affordable housing nonprofit
Photo of Gary Acosta with this quote: If you want builders to build more affordable housing, you have to make the economics work for them. -- Gary Acosta, National Association of Hispanic Real Estate Professionals
Photo of Vince Toye with quote: When you hear affordable housing in a neighborhood, some are well, I don't want that, because that's going to bring my property value down. -Vince Toye, Wells Fargo Community Lending and Investment

This video has been updated to include Gary Acosta, CEO of the National Association of Hispanic Real Estate Professionals.