Will We See a Housing Shortage in the Future? Some mortgage executives are starting to talk about a coming shortage in homes to buy. No, these executives (most of whom don't want their names attached to such crazy talk) aren't saying that such a shortage is right around the corner - but in three to five years, who knows? If you're wondering what's behind this talk, it's the (continued) weak new home building and permit numbers. Also, if employment continues to gather steam that means more consumers will be in a position to buy a home. And here's one startling statistic: In 75% of U.S. cities it is now cheaper to own than to rent. (No, New York City is not one of them.) When the rent/own pendulum tilts, good things can happen. It's too bad for home buyers that they will need to have a 20% down payment in order to get a great rate. But that's what mom and dad are for or really good friends. 
Friday, March 18, 2011
Will We See a Housing Shortage in the Future?
Will We See a Housing Shortage in the Future? Some mortgage executives are starting to talk about a coming shortage in homes to buy. No, these executives (most of whom don't want their names attached to such crazy talk) aren't saying that such a shortage is right around the corner - but in three to five years, who knows? If you're wondering what's behind this talk, it's the (continued) weak new home building and permit numbers. Also, if employment continues to gather steam that means more consumers will be in a position to buy a home. And here's one startling statistic: In 75% of U.S. cities it is now cheaper to own than to rent. (No, New York City is not one of them.) When the rent/own pendulum tilts, good things can happen. It's too bad for home buyers that they will need to have a 20% down payment in order to get a great rate. But that's what mom and dad are for or really good friends. 
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1 comment:
Great post, very insightful.
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