Texas needs hundreds of thousands of new homes to lower soaring costs, comptroller warns

Texas faces a severe affordability crisis, with rising home prices and a housing shortage impacting low- and middle-income families. The state has gained 4.2 million residents in the past decade, yet new home construction lags, requiring an estimated 500,000 additional homes. Nearly 45% of renters spend over 30% of their income on housing, and the median home price has surged to $343,000. Recommendations for intervention include increasing investments in affordable housing and reducing regulatory barriers, but local resistance poses challenges.

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