This chapter discusses the low supply and high demand in the housing market, leading to rising prices for both buying and renting homes. It identifies factors such as low mortgage rates, decrease in housing inventory, scarcity of land, high lumber prices, and shortage of skilled labor as causes for the lack of housing supply.
The current U.S. housing market is plagued by soaring interest rates and dwindling affordability for millions of Americans. Plus robust consumer spending and rising debt is raising concerns about the long-term stability of the economy. Get the facts first on Morning Wire.