A longstanding housing supply shortage keeping single-family home values elevated and narrowing housing access for younger, first-time, and low- to moderate-income homebuyers is widely cited as a driver of persistent housing affordability challenges.
But millions of affordable homes already exist, agreed a panel of housing and mortgage policy experts speaking Wednesday at an online-only roundtable hosted by New America, a think tank and policy group. Those homes are largely off limits for many U.S. families, however, because of financing structures leaving them unmortgageable.
“These homes are a vital part of our housing market,” said Sabiha Zainulbhai, deputy director of the Future Land and Housing Program at New America, describing small-...