top of page
  • johnloy

CNN Report on Housing- Shortage Growing (3/8/23)

Below (attached link) is a good CNN report on housing shortage issues. I found it interesting how they break out multi-family and single family. Many families who are living in multi-family units (whether rental or own-occupied), would prefer a single family home- especially in the regions where we are currently focused.

"The gap between single-family home constructions and household formations grew to 6.5 million homes between 2012 and 2022. However, this figure overstates the housing shortage, since new multi-family homes offer options both to buyers and renters. If multi-family construction is included — which is predominantly rental units — this gap is cut to 2.3 million homes"

"Looking only at single-family homes, the rate of housing starts would need to triple to keep up with demand and close the existing 6.5 million home gap in 3 to 4 years."

These are compelling, and a bit shocking, numbers (yes, the press always wants to get the 'shock' reaction with everything these days...). The real numbers that are actionable are local numbers- as we all know home ownership/real estate is local.

This report does confirm to us that there are quite a few local areas where the housing shortage (single family homes specifically) is severe and not getting better. Demand for nice mid-priced homes is not being met.

By picking the right "local" locations we can help address the broader housing issue, one community at a time, and have some fun and make some money at the same time.

Read the full article it HERE Go to our Resource Page for more articles HERE

John Loy

bottom of page