A Housing Crisis occurs when there is an extended and increasing scarcity affordable housing and the housing supply falls far short of demand. Most major cities are experiencing this problem as strong economic growth has led to massive population growth and sky rocketing housing prices. The conventional method of measuring is the “shelter-cost-income ratio” where housing is considered affordable if it costs 30% or less of before tax household income.

The term “affordable housing” is often conflated with social housing or subsidized housing. It is a broad term that includes housing provided by private, government, and non-profit sectors, as well as all forms of housing tenure, i.e. rental, ownership, co-op, temporary, and permanent housing. Intro to Housing Crises .

The Crisis is solely the product of growth and is a supply shortage issue. The Crisis is a product of inequality fueled by growth, and is rooted in housing costs outpacing income growth by increasingly wider margins.  There are two competing characterizations of Housing Crises. The Crisis is solely the product of growth and is a supply shortage issue and the Crisis is a product of inequality fueled by growth, and is rooted in housing.