I just read this article at SmartMoney.com about the possibility of a housing shortage in the future.  This is not something you’d think could happen; particularly when so many people are having trouble selling their homes.   When you step back and think about it, it does make sense.  Right now only about 600,000 new homes are being built each year, but we need about 1.3mil to 1.4mil new houses per year to sustain the growing population long-term.  Why isn’t it a problem right now?  Not as many people are buying….potentially due to lack of employment or concerns about job stability.  The college grads are moving home to live with their parents, other people are renting.   One woman I spoke with who manages a luxury apartment complex told me that she’s at 100% capacity and that it’s common right now.   What happens when the job market improves and these people decide to buy? Will we be faced with a housing shortage?

What do you think? Will we have a housing shortage in our future? If so, how many years away are we from it happening?  Post your thoughts below! :)

~Nikki

You can reach Nikki directly at:
Nikki.Devaux@SothebysRealty.com
617-276-5247