Scott Alter, founder and principal at Standard Communities, says the housing affordability crisis is fundamentally a supply problem worsened by rising interest rates, with the ten-year yield at levels not seen since 2007. He argues the federal government must lead on policy through programs like the Low Income Housing Tax Credit, while highlighting Austin, Texas as a market where added supply has actually brought rents down. Alter also points to a middle income squeeze where families earn too much for subsidized housing but can't afford market rate rents.