Why is housing in the U.S. so expensive?

How did we get here?

Before 2008, U.S. developers were building around 2.2 million homes a year. Today, they are building just under 1.43 million homes a year.

Economists estimate that we need 2 to 3 million more homes to meet the current housing demand and bring home prices back down.

Home Builders Institute

90 percent of single-family builders reported a shortage in skilled laborers

Experts estimate that The construction industry needs approximately 723,000 new construction workers yearly to meet demand.

National Immigration Forum.

roughly 30% of the construction work force are immigrants.