D
espite supply challenges, real estate professionals can help local municipalities streamline inventory solutions by cutting down on red tape. A panel of experts at NAR NXT emphasized that increasing housing supply requires a multifaceted approach.

    The U.S. is millions of units short to meet demand, and inaction will only exacerbate the issue. Phil Crone, vice president of Leading Builders of America, likened it to "a high-stakes game of musical chairs," where those on the lowest rung are pushed out without middle-class housing options.

    Opening federal lands to development isn't a viable solution, as Edward Glaeser, Harvard University economist, pointed out. This approach would sacrifice land on the periphery without addressing affordability issues. Local solutions also face pushback, such as Massachusetts' MBTA Communities Act, which requires localities to increase zoning for multifamily housing near transit stops.

    To overcome these challenges, experts suggest several strategies: fund technological improvements with grants to speed up permitting processes; achieve economies of scale through manufactured housing and mass production; develop the construction workforce by offering vocational education in schools; and support pro-growth political leaders. Real estate professionals can also lend their voice by advocating for zoning changes and supporting local development initiatives, as Kathleen Heyer advised: "When there's a town meeting about new housing, show up and explain to neighbors it's not the end of the world."