affordability crisis

The affordability crisis refers to a situation where the costs of essential needs—like housing, healthcare, education, and transportation—rise faster than people's income, making it difficult for many to afford a decent standard of living. This gap between earnings and expenses can lead to increased financial stress, homelessness, and economic inequality. Factors contributing include housing shortages, rising prices, wage stagnation, and changing economic policies. Addressing this crisis requires coordinated efforts to make basic necessities more accessible and affordable, ensuring that everyone can meet their essential needs without undue financial hardship.