"Brad Case estimates the housing shortage is somewhere between 4 and 5 million homes. This estimate accounts for all housing types, not just single-family. I look at the number of households relative to the number of adults, and that's what we call the headship rate."
"Between 1983 and 2007, the average number of housing starts per year was about 6,000 homes per 1 million people. Since 2008, average starts are running at about half that number, or roughly 3,000 starts per 1 million people."
Freddie Mac estimated a housing shortage of 3.7 million units in 2024, while Realtor.com reported over 4 million. The NAHB's estimate is 1.2 million units. Brad Case from Homes.com suggests that estimates vary based on criteria, questioning the focus on owner-occupied, single-family homes. Some argue there is no true shortage as most people have housing, albeit not ideal. Case estimates a shortage of 4 to 5 million homes, considering all types. Historical data shows a significant drop in housing starts since 2008.
Read at www.housingwire.com
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