BofA on the ‘fundamental disconnect’ in the housing market: You’re blaming the wrong person for why you can’t afford a home
Bank of America Research identifies a significant disconnect between housing policy and the actual supply shortage, arguing that voters are misplacing blame. The report suggests that decades of underbuilding, exacerbated by local zoning restrictions and NIMBYism, are the primary drivers of the affordability crisis, rather than interest rates or institutional investors. This chronic undersupply, coupled with a "lock-in effect" from low mortgage rates, has frozen the resale market and left many potential buyers unable to afford homes. AI
