CRUMBLING FOUNDATION: Housing market's underproduction crisis getting worse, new analysis finds
Disruptive Tech Research founder and chief analyst Lou Basenese weighs in on the housing market and the overall state of the economy on ‘Varney & Co.’is sounding the alarm on the nation's underproduction of homes. on Thursday, the U.S. homes deficit more than doubled between 2012 and 2019 from 1.65 million to 3.8 million.
Lumber at the site of a house under construction in the Cielo at Sand Creek by Century Communities housing development in Antioch, California, U.S., on Thursday, March 31, 2022. Only 25 metros experienced an improvement in underproduction, or a shrinking housing deficit, since 2012.In order to help solve the housing shortage, Up For Growth has called for the adoption of its Better Foundation framework, which seeks to create more homes in areas with high economic mobility, access to jobs and existing infrastructure.
"It is vital that we act now to address America’s most urgent economic, environmental and social equity crisis," Up for Growth CEO Mike Kingsella said in a statement.For the week ending July 9, active housing inventory grew 28% compared to a year ago, according to Realtor.com. The shift comes as several weeks of new listings coming online boosted inventory levels by almost a third compared to a year ago.
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