Harvard: There’s a housing shortage, and it’s eroding affordability 

There’s a shortage of homes on the market, and it’s driving up house prices and rents, especially for average earners living in high-cost markets. This is the big takeaway from Harvard’s massive study from the Joint Center for Housing Studies released recently on the state of the nation’s housing market. The gist is that the housing market is constrained by production that has been below historical levels for more than a decade.