A new report from the White House is putting a staggering number on America's housing crisis,

and it could reshape the political and economic conversation heading into the midterms.

I'm Kathy Fedke, and this is Real Estate News for investors.

This is Real Estate News with Kathy Fedke.

According to the latest economic report of the president, obtained by the Associated Press,

the United States is short about 10 million homes.

The report paints a clear picture of how we got here.

Following the 2008 global financial crisis, home building slowed dramatically

and never fully recovered. Had construction kept pace with the historical trends, the country

would have millions more homes today. But instead, we're facing a severe supply shortage,

and it's showing up in prices. Home prices have surged 82% since 2000, while incomes

have risen just 12%. That gap was temporarily masked by ultra-low interest rates, but once rates

climbed after the pandemic, affordability quickly deteriorated, especially for younger buyers.

Now the White House says the biggest culprits behind the shortage is what's called bureaucratic tax.

According to the report, regulations tied to zoning, building codes, and permitting can add more than $100,000 to the cost of a home. And here's where it gets

interesting for investors. The administration estimates that cutting those regulatory costs

could lead to as many as 13 million new homes, potentially boosting economic growth by 1.3

percentage points annually and creating 2 million jobs in construction and manufacturing.

President Trump has already taken some steps in that direction. In March, he signed executive orders

aimed at reducing regulatory burdens and making it easier for smaller banks to issue mortgages.

But housing hasn't always been front and center.

Global events, including rising tensions tied to the Iran War, have pushed mortgage rates higher,

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