Home shortage – here’s why!

The U.S. is more than 3 million homes short of the demand from would-be homebuyers, according to Freddie Mac. 

NPR states, “Pandemic-related supply chain problems aren’t helping. They’re adding tens of thousands of dollars in cost to the typical house. But the roots of the problem go back much further — to the housing bubble collapse in 2008.”

How so?

As homebuilders went out of business during the crash, tradespeople found other work, or got trained for new jobs. 

For more than a decade, building stayed below normal. 

Then the largest generation, millennials, entered the housing market. 

Here we are – millions of homes short. 

How do we rectify the issue?

Emerson Claus, president of the Home Builders and Remodelers Association of Massachusetts, suggests small homes on less land an/or townhomes

Claus discusses a few things standing in the way of allowing this to happen here. 

 

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