Like most economists, they believe it is a supply problem. But more importantly, they claim that many North American contractors downsized or went out of business during the 2008 mortgage crisis, that industry never scaled back up, and were simply not building at the rate we were 20 years ago.
In other words, we need to incentivize and more people getting into construction.
(And now the construction industry is worried that Mexican labor will get deported under Trump, so, oof)
The guy above you is pretty rude, but if you’re curious, The Daily had a good piece on housing prices.
https://www.nytimes.com/2024/09/24/podcasts/the-daily/housing-crisis-michigan.html
Like most economists, they believe it is a supply problem. But more importantly, they claim that many North American contractors downsized or went out of business during the 2008 mortgage crisis, that industry never scaled back up, and were simply not building at the rate we were 20 years ago.
In other words, we need to incentivize and more people getting into construction.
(And now the construction industry is worried that Mexican labor will get deported under Trump, so, oof)