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Housing has become unaffordable for most Americans. This is why both the Left and the right are talking about it. However, this is not just a matter of pricing. Today’s show breaks down what’s wrong.

“Buying a home for the first time has never been easy, but it absolutely should be easier, and there are ways we can do that,” Crowder said. “You can't say this is a result of unfettered capitalism because it's actually worse in some other countries around the world,” referring to places like Canada and the UK.

There are many reasons why the housing market has skyrocketed. This includes more investors, illegals, construction costs, regulations that increase costs, and high interest rates, among many other things.

The cost of construction has increased exponentially, as well as a shortage of workers. Construction materials have also increased by over 40%.

“This is a sector that has been hit worse than others,” Crowder said.

Additionally, investors bought 26% of the nation's most affordable homes.

“They turn a lot of them into rentals, and they raise the prices for buyers. That's a problem. That alone changes the market so much,” Crowder said. “Everyone who collects revenue from the housing market has a vested interest in keeping prices high and seeing them increase.”

Local governments also have incentives to increase bureaucratic costs. This is why we see an increase in building expensive homes, while $100,000 starter properties are no longer the norm.

“Higher home value, higher property values, mean more property taxes. All of this contributes,” Crowder said.

According to the Housing Affordability Institute:

Fiscal zoning is the practice of using local land-use regulation to preserve and possibly enhance the local property tax base. Under fiscal zoning, local governments use land-use policies and other regulatory powers that increase home prices to maximize future tax revenue, minimize future expenditures, and seek to recapture the perceived “impact” new development has as development occurs.

“They mandate larger homes specifically to increase property tax revenue and minimize the cost of public services,” Crowder said.