Intro by Jack Donaldson, Wesport Homes Inc.
Driving through the doughnut counties, you might notice new home construction humming along. It may seem like a healthy pace, but this article argues that the housing industry still isn’t building enough new homes. The Great Recession still looms large and the industry is still feeling the effects. Several factors are keeping buyers on the sidelines and builders from building at full capacity. A shortage of construction-ready lots and a reduced workforce in the industry are contributing to a limited supply, which contributes to driving up the price of homes. This is coupled with rising interest rates keeping buyers on the sidelines. The good news: with the lower inventory, better banking oversight and less speculation, this article doesn’t anticipate another housing bust of the proportion we saw just over a decade ago.
Read the article here.
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