WSJ News Exclusive | U.S. Housing Market Needs 5.5 Million More Units, Says New Report

Construction of new housing in the past 20 years fell 5.5 million units short of long-term historical levels, according to a new National Association of Realtors report, which is calling for a “once-in-a-generation” policy response.

The industry lobbying group said it hopes the report, set to be released Wednesday, persuades lawmakers to include housing investmentsU.S. builders added 1.225 million new housing units, on average, each year from 2001 to 2020, according to the report, which was prepared for NAR by Rosen Consulting Group LLC. That figure is down from an annual average of 1.5 million new units from 1968 to 2000.

The 5.5 million-unit deficit includes about two million single-family homes, 1.1 million buildings with two to four units and 2.4 million buildings of at least five units, the report says. “The scale of the problem is so large,” said David Bank, senior vice president of Rosen Consulting Group and one of the report’s authors. “We need affordable [housing], we need market-rate, we need single-family, we need multifamily.”

very ugly design All the same

I can see why Elon Musk sold (or is selling) his last house

Tell this to the radical in the gop party who seems to think that infrastructure is not necessary and important. The gop is the party of Obstacles and not Progress. We need to call them out on their lies, mistruths, and denial of the fact people want stability, jobs, and homes

What can be done about the housing crisis? The wealthy and foreign investors buy up properties so that the average person can't afford to buy a home. Landlords are price gouging on rent.

Soo blackrock starting a government subsidized housing development company now or...

It is better for Biden to let the Economy dip now rather than later. It is still under the shadow of Trump and his policies. Fed extending the rally got it all wrong.

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