Congress just addressed housing supply. Here's the next step

Congress recently took an important bipartisan step toward addressing America’s housing affordability challenge. The legislation deserves credit because it recognizes a reality policymakers can no longer ignore: the United States needs more housing.

Housing affordability is no longer simply a supply challenge. It is increasingly a cost challenge. Congress addressed housing supply and some affordability costs. The next challenge is the larger cost structure embedded within the housing system itself.