Housing Shortage Statistics- What do they mean?
Below is a link to a recent article (April 14, 2023) in the WSJ-
The article is very good at explaining/showing that "summary' total numbers often hide a lot of meaning, based on how they were compiled. There is no question on their being a "shortage", it is just how we define "shortage" and calculate it can have a great impact on the totals, and really are often not actionable.
What I find interesting is that it does highlight the local supply/demand of different price-point housing segments. That is where people live and try to buy a nicer home for themselves. The good news is that with data tools and hard work, it can be very well understood. It is more interesting to know how many local areas are experiencing a local shortage of different price-point homes. And that is where a local developer, working with us, the local community, and a national builder, can make a real difference, one community at a time.
How Severe Is the Housing Shortage? It Depends on How You Define ‘Shortage’