Lessening the gap between median prices for new construction and existing single-family homes is crucial
By Robert Dietz | Builder
There are a number of factors that make the post-Great Recession housing market unique among recent business cycles. A persistent skilled labor shortage, growth in land development and regulatory construction costs, a years-long period of under-building, and a sustained decline for housing affordability define the economics of the housing market over the past decade and have led to an affordability crisis. These supply-side headwinds have left clear evidence on the relative prices of new and existing homes.
