Get used to the housing crunch — it will be with us for years — but there will be surprising benefits

Get used to the housing crunch — it will be with us for years — but there will be surprising benefits
·4 min read

If you think the white-hot housing market is a supernova that’s destined to burn out, here’s some advice: Put on your heat-deflecting space suit. The factors that led to the housing boom and sellers market are still very much with us: pent-up demand; limited supply; excess cash in the economy as a result of pandemic-induced savings; low interest rates; rising inflation; steadily climbing builder prices; and a demographic bulge of millennials who want to start families and need more room. To satisfy demand, the U.S. housing market needs 3.8 million more homes than are currently on the market.

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