HOUSING’S INVENTORY PROBLEM IS THREE-PRONGED AND LIKELY PERMANENT.
Look at any major housing market in the country right now, and you will see signs of building. Inventory is short; the housing market is hot, and the cranes are all over the skyline. However, all too often, those cranes are not necessarily moving.
In the wake of the housing crash, we also saw these cranes standing still, but that was different. Then, there was no demand for their services. We had an absolute glut of housing inventory thanks to the foreclosure crisis. Now, those cranes are not moving because in a lot of cases, there is no one to run them. Real estate’s labor and supply shortage is real and, I fear, permanent.
Here’s why: https://online.flippingbook.com/view/1044503/44-45/