Friday, August 28, 2009
Financial crisis cripples new affordable housing
A major housing shortage is on the way as the level of construction continues to be frighteningly low. Given population growth and the need to replace housing stock over time, there is just not enough being built. I have been putting up posts on this on a regular basis. This is why I like builders.
If we don't make up for what we will be needing as far as housing stock is concerned, America in a decade or two may look like a very scary place, with millions of homeless and otherwise dilapidated and ramshackle housing conditions.
Read my report on housing and the homebuilders. It will shock you!
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4 comments:
Thanks for providing a very interesting and fresh perspective! One of the biggest issues is, of course, that even if builders were to build, so few people can qualify for a mortgage.
Yes, the credit crunch is still very much upon us but take heart...credit and lending are procyclical. If things in the real economy start getting better, you will see lending pick up. Mainly, people need jobs to be able to ask for credit.
Mike, Amazing isn't it how no one is paying attention to the housing starts vs population growth. Actually, if not for you bringing it to my attention nearly a year ago I'd be clueless. Thanks :)
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