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Chart of the Day: Short 1.5 Million Housing Units

Bar chart from 2000 to current with homes for-sale in blue and for-rent in yellow

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Today’s Chart of the Day from ResiClub shows that the US housing market is short 1.5 million housing units. As with all things, the causes, fixes, and effect on our economy are part of a long equation, much too long for this post.

One thing that always stands out in my mind is the dearth of people willing to work in the trades needed to build houses.A study from Bloomberg shows that 43% of people wouldn’t work in construction at any level of compensation. Thankfully, there has been an increase of 11% annually in trade school enrollment, which may help alleviate the issue in coming years.

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