While a number of factors contribute to the housing shortage,I think the prices and mortgage rates are most impactful.


“With mortgage rates and home prices continuing to climb, an increase in housing supply is absolutely crucial to keeping affordability conditions from further deterioration,” said Yun. “The current pace of price appreciation far above incomes is not sustainable in the long run.” 

Laurence Yun, chief economist for the  National Association of Realtors.

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