"With an abundance of housing inventory in most markets and foreclosures common across the country, it seems unfathomable to envision a housing shortage. However, some trends are taking shape that foretell just such a possibility in certain parts of the United States."
"According to a recen article reported on MSN MOney, economist are pointing at the covergence of two trends - a depressed level of home construction (new home starts in 2009 were one-third of the historical norm of 1.6 million), and the inevitable emergence of a generation that will soon be entering the work force and forming households - that could cause a shortage."
"Overbuilt markets such as South Florida, Las Vegas and Phoenix may not be in danger of such a squeeze anytime soon. But the article identifies Western states such as Oregon, New Mexico and Utah, where housing supply and dempand is considered to be in balance, as locations that could be undersupplied as early as mid - 2012."
-Taken from The Group INC Real Estate Insider
Wynn Washle, Ph.D., CRS
Broker Associate/Partner
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