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If by American people, you mean older homeowners and corporate entities, real estate investment trusts, their shareholders and the people who staff them.They are aware of this, but the reasons are numerous and it doesn't have to do with political parties...it has to do with the American people.
We want to be able to sell to make a profit to anyone willing to pay. American banks want to give out predatory loans and go after folks who probably shouldn't be asking for loans (it's perfect for banks as they make money either way).
Neither group wants the government to interfere on this. So, for once, you have an unstated agreement between both parties to not interfere...because they want to get re-elected.
We get a lot of anti-China rhetoric on this forum and in politics. But when it comes down to getting paid for land...folks stop caring where the money comes from.
Sure, you've got the Boomer and older homeowner generation that benefit from high housing prices/refinancing their homes, but everyone else who isn't involved in the real estate industry or at least well-to-do is basically SOL and recognizes the housing crisis as the problem it clearly is; hell even existing homeowners do. In fact a supermajority of ~70%+ Americans in fact have serious concerns about housing affordability: https://www.housingfinance.com/news...ns-worried-about-lack-of-affordable-housing_o || https://www.cato.org/survey-reports...housing-69-worry-their-kids-grandkids-wont-be || https://today.yougov.com/economy/articles/45921-americans-say-difficult-find-affordable-housing
Though roughly 64% of the adult population happened to be homeowners as of 2019, the last time reliable data was collected, that number was steadily dropping.
In short, given the dearth of action and mention by our politicos despite this housing affordability being so clearly important to a vast majority Americans who recognize it as a problem, it's less that Americans collectively support the status quo and more that lawmakers simply aren't interested in pursuing and addressing the issue, likely because there are other elements holding their tongue, with lobbying and campaign finance being the most likely culprits.
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