From New York Times, I'm Michael Bobaro. This is the day of life.

Home prices on a tear again. Over the past year,

take a look at this.

Starter homes hit the $1 million mark

and 241 cities across the country.

Frustration over the cost of housing in the United States.

We need to build more housing in America.

Young people will once again be able to afford a mortgage and a home.

Has become a centerpiece of the presidential race.

The Federal Reserve today delivering a jolt to the U.S. economy.

The focus of government policy.

Would be homebuyers now looking for more cuts from the Central Bank to potentially

ease the cost of borrowing even more. And an agonizing nationwide dilemma from San Francisco to Kalamazoo.

But as my colleague Connor Doherty explains, the true origin of the housing crisis is what now makes it so hard to solve. It's Tuesday, September 24th.

So, Connor, this story begins

with you and me sitting across a table at a bar, which sounds like

set up to a punchline, but it's true about that's where the story begins.

Yes, that is where the story begins. So I live in Los Angeles,

I was in New York visiting,

and maybe this is a good argument

for working in an office more often.

But I had all these meetings with. working in an office more often.

...