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Higher building costs and a shrinking supply of low-cost rental units are helping create an affordable housing crisis.

Higher building costs, a shrinking supply of low-cost rental units and more people with higher incomes choosing to rent rather than buy are driving the increase in higher-priced rentals and corresponding decline in low-cost units, according to a 2020 report from the Joint Center for Housing Studies of Harvard University.

Higher building costs, a shrinking supply of low-cost rental units and more people with higher incomes choosing to rent rather than buy.

Voters supported funding for affordable housing initiatives in the fall elections and advocates say Congress should do the same

As housing costs soar, analysts and advocates argue that Congress needs to take federal action to address an affordable housing crisis.