How is it a housing "shortage" if there is no population growth? (The population has declined due to the pandemic).
I think it's obvious that it's not a shortage driving these prices.
I think it's obvious that it's not a shortage driving these prices.
Household size also changes. People are forming families later or not at all, so spending more time living alone. Empty nesters are staying in the houses they raised children in instead of downsizing, for various reasons, but especially a lack of smaller places to downsize to. The mix of apartments, houses, townhouses, and bedroom counts needs to be flexible and respond to population over time.
It’s simply not the case that the living arrangements that were in place when we froze everything in amber just keep working for us indefinitely into the future. Needs change!
https://www.populationpyramid.net/united-states-of-america/2...
Things will change in ~10 years as baby boomers start dying off (or at least vacating their homes for senior living) en masse and are replaced by the relatively tiny Zoomer generation, but things are going to be tight for the next decade or so.