A situation where the demand for housing exceeds the available supply, resulting in a lack of affordable and adequate housing options.
Related terms
Urbanization: The process of population growth and increasing urban areas, which can contribute to housing shortages as more people move into cities.
Affordable Housing: Housing that is priced at a level that is within the means of low- or middle-income individuals or families.
Zoning Regulations: Rules set by local governments that regulate land use and determine what types of buildings can be constructed in certain areas. Zoning regulations can impact housing availability and density in cities.