CNBC Marathon reviews why a costofliving crisis is unfolding across America’s housing infrastructure. CNBC explores what that means for apartments in the cities and houses in the suburbs.
Inflation data shows that costs for items such as rent and groceries are increasing quickly across the Sun Belt and coastal cities. Now years removed from the darkest days of the pandemic, people are asking: Is a return to the city worth it? Metropolitan regions have sprawled in recent years, raising budget concerns and qualityoflife issues for the people who remain downtown. Meanwhile the absence of commuters is slowing the recovery in leisure and hospitality.
About 46% of renters in the U.S. are struggling to make ends meet, according to Harvard University researchers. Builders say conditions for renters will get worse before they get better. A snarled supply chain, a labor shortage, and rising interest rates are worsening what some call a "throwaway" development pattern. Several real estate industry experts have ideas about how to make housing more attainable. Some of the most popular ideas include mixeduse districts and masterplanned communities.
America's suburbs are sprawling again. Over the 20th century, real estate developers built large tracts of singlefamily homes outside of major cities. The builders were following mortgage underwriting standards first introduced by the Federal Housing Administration in the 1930s. Over the century, those guidelines created housing market conditions that explicitly shut out many minorities. Experts say it is possible to update these old building codes to create equity while fixing some, but not all of the problems of American suburbia.
CNBC Marathon brings together the best of CNBC’s coverage on the U.S. housing crisis and how life in the suburbs impacts city living.
Chapters:
00:00 Introduction
00:39 How to make the suburbs more affordable (Published April. 2022)
13:22 How suburban sprawl shapes the U.S. economy (Published Feb. 2022)
26:34 Are major cities still worth it? (Published May 2022)
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
Connect with CNBC News Online
Get the latest news: https://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC
#CNBC
Are Cities Or The Suburbs Better For The Economy? | CNBC Marathon