Older Homes Deter Upgrade of Housing Stock

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Posted To: MND NewsWire

The library of articles citing the alarming lack of new construction continues to grow. Freddie Mac, the Urban Institute (UI), and John McManus of Builder Pulse magazine have all written articles about what some of them called a crisis for the housing industry. UI put the shortfall between supply and demand in 2017 at 350,000 units. Freddie Mac’s economists estimated that the long-term deficit could be 2.5 to 4.0 million units each year. McManus went to far as to say housing may be broken because of the dislocation created by too few houses. Now the National Association of Home Builders (NAHB) has produced a study about some of the ramifications. Paul Emrath focuses on one of them in an article in NAHB’s Eye on Housing blog. He points out that, since 2006, builders have failed to match the…(read more)

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