America's housing shortage is getting worse, and that's bad news for young people who can't afford to buy a home.

• The U.S. is short about two to three million homes.
• One in three adults under 35 still lives with their parents because they can't afford a place.
• The typical first-time buyer is now 40 years old, a sign homes have gotten too expensive for younger people.
• High prices and a lack of supply are locking a whole generation out of homeownership.

Outlook: Without more homes being built or prices falling, young Americans will keep struggling to buy, and more will stay stuck at home.