The Expert Podcast

• New home construction reported a 12% increase, but this translates to only 200,000 additional houses annually
• The annual construction rate stands at 1.71 million homes
• This modest increase barely scratches the surface of America's housing crisis

• Nationwide shortage of approximately 5.2 million single-family homes based on current demand
• At current construction rates, it would take 25 years to address the existing shortage
• Even if all 1.71 million new homes went toward closing the gap, it would still take 3 years - not accounting for additional future demand

• Lumber prices have skyrocketed to $1,100 per thousand board feet, up from $400 just this summer
• Higher material costs slow construction and increase home prices
• Severe shortage of workers, contractors, and skilled trades limiting construction speed

• Millennials are entering their prime home-buying years, driving strong demand
• Housing market equilibrium won't occur for 4-6 years minimum
• No capacity to build homes faster due to labor and resource constraints

• Getting into any available house now is better than waiting for the "perfect" home
• Home appreciation will likely continue due to ongoing shortage
• Early entry allows buyers to benefit from appreciation and position themselves for future upgrades
• Deals still exist for those who know where to look

• The housing shortage will persist for years to come
• Prices will likely continue rising due to supply-demand imbalance
• Quick action is essential for anyone hoping to enter the housing market