
The disparate projections reflect the challenge of quantifying the nation’s housing needs, a puzzle that rests on assumptions about how much a home should cost, how many people it should hold, and how big a footprint it should have…
The U.S. has 146 million homes, Census Bureau data show. Of those, 8.1 million are “doubled up” households, meaning people are sharing space with non-relatives. Zillow’s housing estimate assumes most of those people would prefer having their own place. There also are 3.4 million vacant homes available to rent or buy, the real estate website says. So Zillow economists subtracted the number of available homes from the number of doubled-up households and concluded that the nation needs 4.7 million more homes…
Several analyses zeroed in on two questions: How many homes should be vacant, and how many consumers have delayed striking out on their own because of the cost…
For many economists, that suggests the equation should be: the number of existing households, plus the number of homes that should be vacant, plus the number of households that would naturally come into being if there was enough inventory to lower prices.
This matters for multiple reasons. First, it is helpful to have more accurate estimates. This can help policies intended to help. These are methodological questions; how do we measure what is happening on the ground? Projections that are too high or too low could lead to not addressing the issue or actions that do not have the intended consequences.
Second, the number of units needed matters because it is part of the public discourse about housing. The article describes estimates ranging from 0 units needed to 8-20 million units are needed. When discussing social problems in public discussions, these numbers can influence a sense of urgency. If people hear there are 5 million units needed, are they more likely to act compared to hearing 1 million units are needed?
Third, the numbers are part of a national discussion. Housing needs can vary quite a bit place to place. Housing is often a very local issue. These numbers are about what could be done on a national level which then has affects on local efforts.
These different measurement strategies and results could end up make it harder to reach consensus on what should be done.








