Thursday, February 20, 2020

The Housing Shortage: Worse Than We Thought

New Housing Units authorized are low compared to previous business cycles.

Once you divide the number of units being approved by the number of households than things get even worse. It's not only less construction compared to normal expansionary cycles, but it's lower than half of the recessions we've had.

The current housing supply is far less elastic than in the past. And you know what that means...

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