2022 U.S. housing shortage exacerbated by post-Great Recession slow construction, high mortgage rates, and increased investor acquisitions.
U.S. housing shortage, estimated between 4-7 million homes, has roots in fewer new homes built in the decade after the Great Recession. Persistent inventory shortage affects homebuyers due to high mortgage rates, slowed construction, and increased institutional investor acquisitions. U.S. cities with the largest increase in housing inventory include Texas (5th nationally), Wisconsin (6th), and several others with varying percentages of increases. The situation has worsened since 2022 due to mortgage rate concerns and slowed construction activity.
July 11, 2024
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