Homebuilders need to construct 3.8M homes to meet demand
The shortage of new homes is pushing up housing prices and threatening to slow down the entire economy, according to a report by Freddie Mac’s chief economist New home construction has lagged since the 2007-09 recession, and now the chickens are coming home to roost: Builders would need to construct 3.8 million single-family homes just to catch up with existing demand, and the shortage is pushing up housing prices and threatening to slow down the entire economy. That’s the conclusion of an analysis by Freddie Mac Chief Economist Sam Khater,…