WATCH: Why are homes and rentals so expensive?

In the past year, the median home price has jumped 17% and over the past decade those same home prices have jumped 80%. That's all while mortgage rates have doubled and rents have also spiked. But, why is it so expensive to find an affordable place to live? To better understand these trends, the PBS NewsHour's Tim McPhillips spoke with Daryl Fairweather, Chief Economist for the real-estate brokerage Redfin, and Steve Berg, the Vice President of Programs and Policy for the National Alliance to End Homelessness.
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