5. "Wild" housing market leaves renters, buyers fewer choices

Illustration of a hand holding a tiny house in its palm.
Illustration: Aïda Amer/Axios

The diminished stock of affordable housing is leaving both renters and buyers in a precarious position with slim options.

Why it matters: Frothy home prices and rising mortgage rates are scrambling the math behind homeownership and worsening a nationwide affordability crisis. And when there are no affordable homes around, it's hard to make any progress on homeownership for people of color.

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