Why There’s a New Kind of Housing Crisis

Nearly one-third of survey respondents said they’d had to scramble to cover a mortgage or rent payment in the past few years

by Andrea Riquier
Market Watch

America has a housing crisis, and most Americans want policy action to address it.

That’s the conclusion of an annual survey released Thursday by the MacArthur Foundation.

The “crisis” is no longer defined by the layers of distress left behind after the subprime bubble burst, but about access to stable, affordable housing.

A vast majority of respondents – 81% – said housing affordability is a problem, and one-third said they or someone they know has been evicted, foreclosed on, or lost their housing in the past five years.

Over half the respondents, 53%, said they’d had to make sacrifices over the past three years to be able to pay their mortgage or rent.

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