Housing is a cornerstone of economic opportunity and quality of life, influencing access to jobs, education, food security, healthcare, and amenities. Yet for many American families, the rising cost of renting or owning a home has become a significant barrier. Inflation, higher mortgage rates, and constrained housing supply—a shortage of 8.2 million units in 2023—have driven up costs, leaving aspiring homeowners and renters struggling to afford quality housing.
“This issue touches rural and urban households, young and old, poor and middle class, and households across racial groups,” write McKinsey’s JP Julien, Shelley Stewart III, and coauthors. For National Homeownership Month, dive into the five housing themes highlighted by the McKinsey Institute for Economic Mobility to tackle the crisis and improve economic mobility for all, then explore these insights for more.
Investing in housing: Unlocking economic mobility for Black families and all Americans
Sustainable, inclusive housing growth: A case study on Columbus, Ohio
A new housing ecosystem: $3.8 trillion under one roof
Housing affordability: A supply-side tool kit for cities
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McKinsey’s five bold solutions to the affordable housing crisis