A recent report by the Common Sense Institute has revealed that Arizona is losing its competitiveness due to a shortage of housing supply and an increase in home prices. The institute conducts a nationwide Housing Competitiveness Index, which measures several factors such as “hours to pay mortgage,” “hours to pay rent,” “housing shortage/surplus,” and “[percentage of] permits of housing deficit/surplus.” In 2011, Arizona had a score of 84 on this index, but now it has dropped to 61. The report suggests that loosening certain housing regulations, such as zoning and permits, increasing the supply of affordable homes, and promoting public-private collaboration, could help alleviate the pressing housing crisis in Arizona.
Source: https://www.thecentersquare.com/arizona/article_80d380b8-0743-11ef-98e7-574394e05471.html
