New vs. Used Housing Prices

New vs. Used Housing Prices

There are a number of factors that make the post-Great Recession housing market unique among recent business cycles. A persistent skilled labor shortage, growth in land development and regulatory construction costs, a years-long period of under-building, and a sustained decline for housing affordability define the economics of the housing market over the past decade and have led to an affordability crisis. These supply-side headwinds have left clear evidence on the relative prices of new and existing homes. Read More

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