Construction of affordable ‘starter homes’ has decreased 75% since the 1970s.
Rising costs aren’t the only thing stopping first-time homebuyers from buying real estate—only 9% of recent new construction is for starter homes. The majority of new housing construction focuses on higher-end buyers due to the increased cost of land, labor, and resources. The rate at which starter homes are built has been on a steady decline since 1980, when they comprised 40 percent of new construction.
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