Harvard’s housing report has a darker message than affordability—the middle-class home was always a historical accident

A Harvard study reveals that the historical era of middle-class homeownership in the U.S. was an anomaly driven by specific conditions, not a natural economic norm. The 2026 State of the Nation’s Housing report highlights persistent affordability challenges, weakening demand, and structural issues like student debt and job market instability exacerbating the crisis.