The latest housing crisis in the U.S.–the lack of supply–has diminshed the availability of affordable homes in many cities. Business Insider staffer Akin Oyedele reports on how the Southern housing market (Delaware to Texas) has been able to outperform other housing markets, with the Census Bureau showing a 12.4% jump in new home sales in July but has still been vulnerable to broader declines in home sales.
Immigrant workers have been able to return to this market which helps on the supply side but affordability continues to be an issue even for the South:
"There is a general and marked slowdown in July that we picked up, and it has nothing to do with the calendar," Richardson told Business Insider on Wednesday. "It has everything to do with affordability."