More than a decade of housing shortfall has pushed home prices out of reach for many Americans. Opening federal land for development may increase supply in parts of the West, but it lacks broad effectiveness. Most severe shortages are located in the Northeast, where developable federal land is rare. Utilization of existing land through zoning changes is critical to address housing affordability. Approximately 640 million acres of U.S. land is federally owned, yet many areas lack necessary infrastructure for development. Development density significantly influences housing capacity on land parcels, dramatically impacting how many homes can be built.
"The housing shortfall has built up over more than a decade and continues to push home prices out of reach for many Americans," said Realtor.com chief economist Danielle Hale.
"The most severe shortages exist in places like the Northeast, where developable federal land is virtually nonexistent. As a result, we've also got to make better use of the land we already have."
"Roughly 640 million acres or nearly one-quarter of all land in the U.S. is federally owned and managed by agencies such as the Bureau of Land Management (BLM)."
"Development density can dramatically alter how many homes can be built on a given plot of land. At Manhattan, New York's density of 61 housing units per acre, a 90-acre parcel could support more than 5,000 homes."
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