FIVE LONG-TERM CHANGES COMING TO HOUSING DEMAND

There will be some shifts in housing demand beyond the recession, says NAHB’s chief economist Robert Dietz.

Economic data will be dismal through the second quarter, but it is possible to look beyond the recession of 2020 and its viral roots and explore possible long-term impacts on housing and the economy.

Housing entered the recession significantly underbuilt. Estimates vary, but based on demographic need and NAHB modeling, the U.S. has a housing deficit of about 1 million residences. Freddie Mac estimates the shortage may total 2.5 million homes. While the causes lie on the supply-side of the market… Click Here to Continue Reading