The Joint Center for Housing Studies (JCHS) of Harvard University released its annual The State of the Nation’s Housing report which shows that housing production still falls short of what is needed, which is keeping pressure on house prices and rents and eroding affordability. Data from the American Community Survey shows 47.4 percent of renter households remained cost burdened, with the share improving just 0.1 percentage point in 2016–2017 and 3.4 percentage points from the peak in 2011. Renters make up 10.8 million of the 18.2 million severely burdened households that pay more than half their incomes for housing.