Although it’s easy to complain about the lack of affordable housing, the current recession is not another housing crisis:
Housing starts, after a brief dip, are back on their pre-COVID uptrend. Clearly, the drop is nothing compared to what we saw prior to 2008. In fact, the dip is nothing like we’ve seen in almost any other recession either - housing has been a strength for the economy.
That being said, it’s safe to wonder if the drop from the Financial Crisis ever really ended. One could argue we are still on the road to recovery from that recession well over a decade ago. And, if you are still thinking about affordability, just think about all the extra homes we could have had if we had been at long-term levels since then.
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Housing permits are showing even more strength than housing starts
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