The American housing debate still appears deceptively familiar: build more homes, loosen zoning restrictions, accelerate permitting, reduce construction costs, and help households qualify for mortgages. These goals remain important, especially in states where housing supply has failed to keep up with population and income growth. But they no longer fully capture what housing affordability now entails. A home must not only be permitted, built, purchased, and financed. It must also be insured. That requirement is becoming harder to satisfy…

Read More