Let’s build housing

“Despite the month-to-month trend or even year-to-year changes, America is facing a massive housing shortage due to multiple years of underproduction in

Yun

relation to population growth. We estimate around 5.5 to 6.8 million additional housing units need to be built. America is on track for only 1.6 million and 1.7 million new housing units this year and next, respectively. That would represent the best two-year performance in 15 years, yet it would still be inadequate. Therefore, expect both rents and home prices to outpace overall consumer price inflation in the upcoming years.”

Lawrence Yun – NAR Cheif Economist

 

 

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