In Austin, Texas, the average rent has surged 108 percent year over year. In New York City, rent has skyrocketed 41 percent. In Salt Lake City, it’s increased 40 percent. In Portland, Oregon, it’s 32 percent. Since mid-March of 2020, there have been just over one million evictions, with 6,613 in the past week alone. There were already half a million people experiencing homelessness nationwide in January 2020, and inflation and the pandemic have only exacerbated the problem.

Clearly there’s an enormous housing crisis. But what is causing it? And how can we address it?

Give us five minutes of your time to read this new edition of Cheat Sheet, exclusively for supporting subscribers like yourself. We will explain the roots of the problem — and what can be done to help.