Starter homes are typically modest in price and under 1,400 square feet. These units accounted for 40% of new residential construction in 1982, and just 9% in 2023. Economists say starter homes are disappearing as home builders contend with rising costs for land, labor and materials while navigating increasingly thick layers of regulation. As a result, many new homes are for high-end buyers in more remote locations. Meanwhile, the age of the first-time buyer rose to 38 from age 29 in 1981.
Chapters:
00:00 Introduction
01:00 Chapter 1 – Inventory
03:20 Chapter 2 – Housing markets
06:03 Chapter 3 – Finances
09:18 Chapter 4 – Regulation
Produced and Edited by: Carlos Waters
Senior Producer: Shawn Baldwin
Graphics: Christina Locopo, Jason Reginato
Additional footage: Getty Images, Congress
Additional sources: Bankrate, Congress for the New Urbanism, Congressional Research Service, Construction Coverage, MMG, Redfin, Reuters, Texas Office of Public Insurance Council, Urban Institute, U.S. Department of Housing and Urban Development
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Why Americans Can’t Find Starter Homes
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