The U.S. housing market is facing a supply deficit, with 3.8 million single-family homes less than buyer demand, The Wall Street Journal reported Thursday (April 15).
According to a new analysis by mortgage-finance company Freddie Mac, the estimate represents a 52 percent rise in the country’s home shortage compared with 2018, when Freddie Mac first reported on the shortfall.
“We should have almost four million more housing units if we had kept up with demand the last few years,” chief Freddie Mac economist Sam Khater said, according to the news outlet. “This is what you get when you underbuild for 10 years.”
The issue is one that shows the dire crisis the housing market is in, with an…