CNN

A shortage of homes for sale, combined with rising expenses like homeowners’ insurance and rent, have made the cost of both owning and renting a home in America increasingly unaffordable for many, taking an ever-growing share of Americans’ paychecks and savings accounts.

“No question this is good news,” said Shaun Donovan, a former US Secretary of Housing and Urban Development, told CNN of the Fed’s rate cut. “But there’s a lot more we have to do to solve an unprecedented housing crisis in this country.”