NerdWallet is defining some of the slogans and catchphrases that appear in campaign ads and coverage in the weeks leading up to the election. This is the fourth installment in the series.

The U.S. is facing a housing crisis — as in, there isn’t enough affordable housing available for the number of people who need it.

The housing shortage is driving up costs of buying. Low supply, teamed with ongoing inflation eating into people’s budgets and mortgage rates over 7%, means there doesn’t seem to be much relief in sight.

When would-be home buyers can't afford to purchase a home, they may remain in the rental market longer, adding to demand for rental housing. In markets where rental supply can't keep pace, that can put further upward pressure on rents.

The problem isn't simply that the U.S. needs more housing. More to the point, it needs more housing that people operating at different income levels can actually afford.…