The Annual Report from the Council of Economic Advisers outlines strategies to tackle the U.S. housing affordability crisis, emphasizing the need to boost housing supply and cut bureaucratic red tape, which adds over $100,000 to home prices. The report states that if homebuilding had maintained its historical pace post-2008, there would be 10 million more single-family homes available today. It also notes a significant drop in the availability of new homes priced under $300,000, from nearly half in 2019 to just 1-in-6 by 2024. The report links the current housing challenges to policies from the previous administration and highlights the impact of immigration policies on housing demand. Additionally, it mentions that recent economic policies have contributed to a decrease in mortgage rates, which are now nearly one percentage point lower than levels recorded in January 2025, potentially offering substantial savings for homebuyers.