Affordability returns as a condition of the housing market as prices of existing homes “goes through the roof.” New construction of residential properties is hampered by supply chain cost increases, especially on lumber, although pricing has inched slightly better. However, the result is the United States is still experiencing a severe shortage of housing stock.
While the shortages have existed for decades, the pandemic, climate change, and economic migration away from coastal cities have combined to create a housing crisis. Bidding wars have pushed entire populations out of the housing market. In fact, for every $1,000 increase in the price
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