Irrefutably, there is a burgeoning shortage of housing in Fort Worth and across Texas. The statewide Texas needs 322,000 more homes to eradicate the housing crisis according to Up for Growth. The surprising gap between increasing house prices and stagnant income further fuels the fire. Nevertheless, the average price to purchase a home in Fort Worth is approximately $330,000 which becomes a dream for a family earning the median income of $77,082. Unfortunately, the expected income to buy a home in Texas has almost doubled in the past decade while the income growth remains unchanged. Thus, the US housing crisis has become a serious concern now-a-days, needs effective unification of all the stakeholders to crack the problem.
The Problem: Why Housing Is Broken?
The U.S. housing crisis didn’t happen overnight. However, there are manifold factors that play a responsible role in intensifying the issue including home shortages, Wall Street Landlords, soaring costs, and rising homelessness. Consequently, a perfect storm of underbuilding, corporate greed, and policy failures has left the country short 4 million homes, according to Up for Growth. Firstly, supply shortage heavily contributes to the crisis.
After the 2008 crash, home construction plummeted. Many cities still enforce strict zoning laws that block multi-family housing, keeping supply artificially low like San Jose restricted it’s 90% land to single-family homes. Furthermore, Los Angeles allows only single-family housing, despite severe affordability crises. Secondly, the Wall Street landlords buy up houses in larger quantities, buying 1 in 7 starter houses, driving up prices and rents to maximize the profit.
Thirdly, soaring costs of construction materials and labor has significantly exacerbate the US housing crisis. The increased construction cost, further, moves to consumers in the form of higher home prices and rents. Lastly, rising homelessness also intensifies the housing crisis by gearing up demand for limited resources, enhancing stigmatization and social disturbance.
It is pertinent here to cite that cities like Los Angeles and Seattle report record high homelessness as rents outpace incomes. According to the Department of Housing and Urban Development (HUD), the US experienced a record-high rise in homelessness, with a 18% rise in 2024 compared to the previous year, covering over 770,000 people experiencing homelessness on a single night. However, there is a dire need of resolving the issue through policymakers and communities act.
Five Bold Solutions to Fix Housing Crisis
The numerous bold solutions are imperative to fix the unbearable housing crisis. Firstly, ending exclusionary zoning , undoubtedly, is the need of the hour in addressing America’s housing crisis. For decades, strict zoning laws have limited housing options driving up rents in high demand areas. Minneapolis demonstrated the viability of reform in 2018 by becoming the first major U.S. city to permit duplexes and triplexes in formerly restricted neighborhoods. The policy shift yielded measurable results, with increased housing production helping to moderate spiraling rental costs. However, various critics claim denser housing harms neighborhood character. But research shows mixed housing types reduce displacement and keep cities affordable.
Therefore, reforming these laws (upzoning) allows more housing in high-demand areas that will ultimately help in addressing the US housing crisis. Secondly, the government’s step towards offering tax breaks to developers can enhance house affordability at a larger pace. For instance, Vienna’s social housing model, where 60% of residents pay just 20% of their income on rent, shows the power of smart tax policies. By offering developers breaks for affordable units, cities can expand housing access without massive public spending. Critics call it wasteful, but studies reveal every $1 invested saves $4 in reduced homelessness and healthcare costs.
With rents spiraling, such incentives could be a lifeline for struggling families. Thirdly, saving for a down payment feels impossible for many first-time buyers, while rising rents push tenants toward eviction. Philadelphia’s pandemic rent relief program slashed evictions by 76%, proving aid works. Opponents claim assistance breeds dependency, but most recipients use it short-term before regaining stability. Expanding programs like FHA loans and housing vouchers could help more families secure stable housing without falling into debt. FHA loans, which require down payments as low as 3.5%, have helped generations of Americans become homeowners. Fourthly, when nonprofits control land, homes stay affordable for generations.
Importantly, Burlington, Vermont’s trust has preserved 650 homes since 1984. Tenant unions also fight unfair rent hikes, giving renters a voice. Critics argue limited resale profits deter buyers, but for families locked out of the market, these models offer a rare shot at homeownership. In a crisis this severe, community-driven solutions may be the key to fairness. Lastly, innovative construction can greatly contribute in solving the US housing crisis. According to sources, factory-built modular homes cut costs by 20%, while vacant offices can transform into apartments. Additionally, New York’s conversions added thousands of units quickly. Some doubt modular durability, but modern designs match traditional quality. With construction delays and costs soaring, these innovations could fast-track affordable housing where it’s needed most. Thus, it is a crucial step in this regard.
A Call to Action
The housing affordability crisis represents one of our most pressing societal challenges, yet meaningful solutions remain within reach through coordinated civic engagement. Furthermore, with 4.3 million housing units needed to meet current demand (Up for Growth, 2024). To drive systemic change, consider these three impactful avenues for participation. First, engage in legislative advocacy by persistently contacting elected officials to champion zoning modernization and increased appropriations for subsidized housing initiatives. Second, actively participate in grassroots housing justice movements by either joining tenant advocacy organizations or financially supporting community land trusts. These innovative models have proven effective in cities from Burlington to Oakland, preserving housing affordability despite market pressures. Lastly, exercise your civic voice by regularly attending municipal planning sessions and zoning board hearings. Empirical evidence from Seattle’s 2023 housing policy debates confirms that consistent community presence significantly influences local decision-making processes. As housing activist Jamal Williams rightly said, “Policy transformation begins when ordinary citizens recognize their collective power.”
The American Dream shouldn’t be a luxury. With smart policies and public will, we can ensure everyone has a safe, affordable place to call home. According to North Texas Housing Affordability Projections 2023-2026, “Our 2023 affordability index shows 60% of Tarrant County renters will become cost-burdened by 2026 if current trends continue.”
Fredrick Kipkoech Kiplangat is a finance professional with an MBA in Finance from Dallas Baptist University (DBU), specializing in financial analysis, investment strategies, and corporate finance with a strong foundation in financial modeling, risk management, and data analytics.
Sources:
- Up for Growth
- Minneapolis Housing Policy Report
- Vienna Social Housing Program
- Philadelphia Eviction Lab.