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Richard Vogel / AP

We told you last week how hard it would be to find a home to buy this spring. The AP's Alex Veiga explains why the nation's "supply of homes for sale hasn't been this thin in nearly 20 years" (especially those affordable for first-time buyers):

  • "Since 2008, the average time homeowners have stayed in their houses before selling has doubled to nearly eight years."
  • "Some who had locked in ultra-low fixed mortgage rates may be reluctant to take on a new loan at a higher rate. Others may wish to sell but can't because they own one of the 3.2 million homes worth less than what's owed on their mortgage."
  • "Some homeowners own other properties they rent out and have little incentive to give up the steady rental income, especially while they're also benefiting from rising home values."
  • "Investors, who typically keep properties for disproportionately long periods, own a larger share of houses."
  • "Though the pace of building has been rising, it has yet to make up for years of sluggish construction growth that followed the housing bust."

What it means: "The homes that are on the market are less affordable to a growing proportion of the population."

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Go deeper

Updated 2 hours ago - Technology

Twitter sues Texas AG Ken Paxton

Texas Attorney General Ken Paxton at February's Conservative Political Action Conference in Orlando, Florida. Photo: Joe Raedle/Getty Images

Twitter on Monday filed a lawsuit against Texas Attorney General Ken Paxton (R), saying that his office launched an investigation into the social media giant because it banned former President Trump from its platform.

Driving the news: Twitter is seeking to halt an investigation launched by Paxton into moderation practices by Big Tech firms including Twitter for what he called "the seemingly coordinated de-platforming of the President," days after they banned him following the Jan. 6 Capitol insurrection.

6 hours ago - Politics & Policy

Senate retirements could attract GOP troublemakers

Sen. Roy Blunt (R-Mo.). Photo: Jim Lo Scalzo/EPA/Bloomberg via Getty Images

Sen. Roy Blunt's retirement highlights the twin challenge facing Senate Republicans: finding good replacement candidates and avoiding a pathway for potential troublemakers to join their ranks.

Why it matters: While the midterm elections are supposed to be a boon to the party out of power, the recent run of retirements — which may not be over — is upending that assumption for the GOP in 2022.

Congressional diversity growing - slowly

Data: Brookings Institution and Pew Research Center; Note: No data on Native Americans in Congress before the 107th Congress; Chart: Danielle Alberti/Axios

The number of non-white senators and House members in the 535-seat Congress has been growing steadily in the past several decades — but representation largely lags behind the overall U.S. population.

Why it matters: Non-whites find it harder to break into the power system because of structural barriers such as the need to quit a job to campaign full time for office, as Axios reported in its latest Hard Truths Deep Dive.