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The United States is currently short millions of homes, according to various estimates. At the same time, with housing starts falling to their lowest level in six years in May, Robert Dietz, chief economist at the National Association of Home Builders (NAHB), recently predicted that 2026 will be another “down year” for new home construction.
He said many factors are impeding the pace of new homebuilding, but local legal and regulatory burdens are “the really big one,” particularly in states such as California and New York.
Entry-Level Housing Shortage
Speaking with Siyamak Khorrami, host of EpochTV’s “Market Insider,” Dietz said potential homebuyers are facing short-term challenges from rising mortgage rates resulting from higher inflation and oil prices, and long-term challenges from housing shortages caused by a decade and a half of underbuilding, which have pushed home prices to present high levels. …
He said many factors are impeding the pace of new homebuilding, but local legal and regulatory burdens are “the really big one,” particularly in states such as California and New York.
Entry-Level Housing Shortage
Speaking with Siyamak Khorrami, host of EpochTV’s “Market Insider,” Dietz said potential homebuyers are facing short-term challenges from rising mortgage rates resulting from higher inflation and oil prices, and long-term challenges from housing shortages caused by a decade and a half of underbuilding, which have pushed home prices to present high levels. …
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