Member-only story
I have written a few articles about the benefits of buying a house even in the current high-priced economy. Those articles ring true if you can actually afford a home, but what about everyone else?
Story after story has been published about potential home buyers, most often first timers, being out vastly outbid in less time than it took to even submit an offer.
The demand for homes is damn near insatiable, but why is that? Home builders constructed 1.3 million housing units in 2020, which sounds like it should meet the demand, right?
Let’s take a look at the numbers to see what they’re really telling us, including:
- How did we get here?
- How big is the problem?
- How do we solve it?
How Did the Housing Supply Tighten So Much?
I have written the brief synopsis below in a previous article, but it’s worth repeating here.
After the housing bust in 2008, many home builders went bankrupt, got bought out/merged with another company, or decided to just get out of the game completely.
