Posted To: MND NewsWire

Look closely and you will see that a lack of new home construction is behind almost every problem facing housing today. Residential construction has simply not recovered from the financial crisis and the experts see it only growing worse. Freddie Mac’s economists estimated the long-term shortfall between the supply of homes and the demand could be 2.5 to 4.0 million units each year. The National Association of Homebuilders’ (NAHB’s) Paul Emrath says since 2006 builders have never matched the average of 1.5 million homes they built each year from 1961 to 2000. While there are many reasons builders aren’t building, two of them are the costs of construction making it risky for builders to assume they can make a profit, and the lack of appropriate skilled labor . One type of building that is attracting…(read more)

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Source: Mortgage News Daily