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.”
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