According to Bloomberg and thanks to higher interest rates, home ownership has become less affordable than apartment living.  In addition to the higher costs of home ownership, single family homes remain in historically short supply in terms of listings available for sale.  Single family new construction is likewise extraordinarily expensive, taking away this solution to alleviating the affordability spiral.

You can read the entire Bloomberg article here.

Costs like this:

Exp House 300x170 - Rent is More Affordable than a Starter Home

But all you get is this:

Falling down house 300x224 - Rent is More Affordable than a Starter Home