Meta description: Housing affordability is expected to shape the 2024 presidential election. President Biden’s administration is exploring new initiatives to alleviate the burden of pricey housing options. Despite low unemployment and strong wage growth, concerns about the negative perception of the economy persist. Younger voters are particularly affected by rising housing costs. The scarcity of available housing and limited Congressional support pose challenges to finding comprehensive solutions. The Federal Reserve’s potential reduction in borrowing costs in 2024 may ease the burden for some. Resolving the housing affordability problem will require an extended and concerted effort.