Welcome to the BPC Housing Commission expert forum! This forum is intended to foster interactive and substantive discussion about pressing housing issues. Each month contributors from different parts of the housing sector will be invited to respond to a discussion topic. Guest posts are shared regularly with Housing Commissioners to help inform their work.
Have a pressing question you’d like us to consider? Please leave it in the comments section. We encourage you and our expert bloggers to add comments, contributing to the national dialogue on solutions for the future of the housing sector.
Expert bloggers are not members of the BPC Housing Commission. Any views expressed on this forum do not necessarily represent the views of the Housing Commission, its Co-Chairs, or the Bipartisan Policy Center.
What are some of the key characteristics of a healthy housing system? And how can the success of these features be measured?
Private sector must take lead role in housing recovery
By Angela Antonelli
The recovery of the housing market will be a slow process and take time. The demand and supply for housing is seriously out of sync and bringing it back into balance will depend on whether policymakers act in a deliberative way to re-build the key characteristics of a healthy housing system. A healthy housing system is one in which:
Economic growth is robust. Quite simply, only sound economic policies and robust growth will breathe life back into the housing market. Until the federal government as well as the states can deal with the crisis of long-term fiscal sustainability (i.e., reversing the current upward trajectory of spending, taxation and regulation), consumer confidence, business investment and jobs growth will remain sluggish. Federal programs crafted to drive recovery in the housing market have failed thus far because of the fundamental weakness of our economy.