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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (34500)7/29/2005 2:35:41 PM
From: Tommaso  Read Replies (2) of 116555
 
>>>What we do have is a serious housing shortage and housing affordability crisis. <<<

Affordability crisis, maybe, but there are about a million houses up and down the Atlantic seaboard--not your old-fashioned beach cabic or shack, but well built, multibedroom, multibath houses--that stand empty half the year or more.

There are retired couples who build themselves four-bedroom houses. There are tens of millions of families with second houses at vacation places. And there are plenty of unoccupied houses for sale all over the country. Builders are adding to the inventory almost as fast as they can. Apartments are readily available in most places.

Anyone who talks about a "serious housing shortage" cannot be taken seriously.
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