5.5 million housing units deficient #shorts
20 Jan 2023 · 1 min
0:59
The National Association of Realtors found the U.S. is short 5.5 million housing units. Even at peak construction rates, it would take at least ten years to close the gap.
The National Association of Realtors found the U.S. is short 5.5 million housing units. Even at peak construction rates, it would take at least ten years to close the gap.
Hey, we take our highest year of new construction and we extrapolate that out, it would take at least a decade. Middle of 2021, the National Association of Realtors came out with a report which reported just a significant gap in the supply and demand of housing in the US, shed a lot of light on the reality of the lack of supply. They noted at the time about 5.5 million units deficient that had been building for decades for homes and for apartments. There's a lot of charts and data on it, but they also extrapolated and tried to figure out, okay, how long is it going to take to fill this gap? And one of the data points we looked at showed that if, hey, we take our highest year of new construction and we extrapolate that out, it would take at least a decade.
