The beginning of 2020 shows a promising outlook for the U.S. housing market.
Within the span of 7 years (2012 to 2019) 5.9 million homes were built within the United States. During that same time period, over 9.8 million new households were formed within the US.
Although some of these households have been able to purchase homes from families moving out of the US or from unoccupied homes, there is still a rather significant deficit between the number of homes built and the number of people needing homes within America.
Explaining The U.S. Housing Deficit
Why is the housing deficit so large though?
As expected, the main culprit seems to be the great recession in 2008. In the years leading up to the market crash, loans were being granted to…