The Interdependency Between Birth Rates and Housing
Expensive housing is creating many deterrents
Falling birth rates. Widening inequality. The climate crisis. They have an unlikely common denominator in the housing market.
Home prices have rocketed higher at record pace for three straight months. Americans' views of buying conditions are the worst since 1982. And supply remains grossly insufficient after decades of underbuilding.
The price spikes started in summer 2020 as record-low mortgage rates and new flexibility around remote working sparked a wave of pandemic moves. That quickly dragged inventory to record lows. Supply has rebounded somewhat, but it remains well below the levels needed to normalize the red-hot market.
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