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Zillow CEO Warns: Housing Crisis Fuels Urgent Need for Policy Changes

8/5/2025

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Summary

Story summary

Zillow CEO Jeremy Wacksman links the housing affordability crisis to a long-term shortage of new home construction since 2008.
Home prices have increased by 30-100% since the pandemic, while average incomes rose only 4% in 2023.
High mortgage rates and seller reluctance have led to inventory levels 40% below pre-pandemic figures.
Wacksman calls for policy changes to boost construction and address the supply deficit.
Zillow predicts a modest 1% decline in home prices by mid-2026, highlighting the urgency for systemic solutions.

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Story summary

Zillow CEO Jeremy Wacksman links the housing affordability crisis to a long-term shortage of new home construction since 2008.
Home prices have increased by 30-100% since the pandemic, while average incomes rose only 4% in 2023.
High mortgage rates and seller reluctance have led to inventory levels 40% below pre-pandemic figures.
Wacksman calls for policy changes to boost construction and address the supply deficit.
Zillow predicts a modest 1% decline in home prices by mid-2026, highlighting the urgency for systemic solutions.