American Consequences - June 2019

ORE THA THE MORTGAGE CRASH GAVE US THIS

In 2018, the housing market

was booming. Prices for existing homes were on the rise. Sales were brisk. And builders kept planning more construction through the end of the year. Then came news that existing-home sales fell 5% this March and continued falling in April. But the problem isn’t that people don’t want to buy houses... It’s that there aren’t enough houses to buy. Simply put, the demand is there, but the supply is not. And that’s going to lead to rising prices. To understand this, let’s have a quick and easy Economics 101 lesson...

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June 2019

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