The Growing Housing Crisis

Hello Buzz - answering the how part of the housing shortage question is one that seems to end many discussions.  Imagine the possibilities if working together towards a common goal were to take place (purely rhetorical)?   

Hopefully, Maryland can address the issue.    Of course, When remains long overdue.   Yes, it's complicated, your state is not alone.  

Buzz Mackintosh I would not call it a "crisis" but CT is also in need of more housing.  We have more Buyers than there are homes on the market right now.

It's interesting to hear what's happening in other parts of the country with the housing industry Buzz. Maryland residents and politicians, hopefully, can work together to figure out how to solve the lack of affordable housing.  Our market is moving along and there are a lot of buyers buying with a lot of cash.  We also have an influx of buyers as our market is far more affordable than say, some areas of CA.

I had to chuckle about a figure in your first chart - 99% of ages 18-34 think it's harder to buy a home now than for previous generations.  They clearly don't know about the crazy high interest rates of the late 70's and 80's - that kept a lot of our younger crowd at the time, renting and not buying.  Thankfully I had help from my Dad to buy a home and got my start.

The issue is many home buyers and far too little for the to be able to buy.

Good for you for getting your status back and being able to post public.

Hi Buzz. Thank you for sharing. I look around and I see people all around who are in denial about the real estate market. Hope is not a plan. This market will have to be sorted out so people can afford homes again.

Hi Buzz,
Yes, the housing shortage is pretty much a nationwide thing. There are many solutions, but they all cost money, and some of them have potentially negative consequences. It needs to be done thoughtfully.

Land costs are soaring and it’s becoming very difficult to build affordable housing !!! ….

I wish I had perfect answers to the housing crisis experienced across much of our nation.  Obviously, building more ought to help curtail some of the problem.

CONGRATULATIONS Buzz, on having this blog FEATURED in the Old Farts Club group!  

It seems unfathomable that we have a housing shortage, with all of the building that is going on and it doesn't seem like the population is continuing to increase at the rate that it has in the past.

The issue most people have where I am is the "affordable" part - rents and sale prices zoomed up starting in 2020. Having more and more affordable housing everywhere would be great!

Thank you for taking the time to prepare and share this market information!  Very professional and informative.

All I can say is politicians talk a good game but they are the problem.... if you and I had a conversation 26 year ago I would have said approvals to build in Los Angele will take 8 months to get to the starting point... now you ask me the same question how long will approval take before I can start to build my answer is 18 months to three years... that is the Number One Problem... then add inflation to the mix, Endre