The cost of housing is a top financial concern for voters this election year second only to inflation.

That's according to a Gallup poll this month.

It comes as home prices in the US jumped 6.5% in March compared to a year earlier, making it the sixth time

over the past year that Home Price Index has hit a new record high.

All of this is interest rates remain at their highest levels in

more than two decades. I spoke earlier with Alex Harrowitz, he's project director of the

Housing Policy Initiative at the Pew Charitable Trusts.

Alex Harrowitz, thanks so much for being with us.

Hey, glad to be here.

So one indicator of just how tough this housing market is,

the number of first-time home buyers who are relying on their parents to co-sign loans or to help with

down payments. It's as high as it's been in at least 30 years. That's according to a

Freddie Mac analysis of loan applications.

What are the implications?

So right now, home prices are about the highest

they've been as a share of income.

And with interest rates being this high

and a structural shortage of housing,

housing affordability has gotten awfully tough and it is very tough to crack into this market

as a first-time home buyer.

And it strikes me it also widens the divide

between those who can afford a home and those who can't.

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