Why can't you find a house for sale? – USA todaySeptember 07, 2023
“What we’ve seen a lot is that the existing homeowners are saying, ‘I might be able to sell my house for $500,000, however, where do I go from here?'" Jeff Taylor, CEO of Mphasis Digital Risk and a Mortgage Bankers Association board member, told FOX Business. "So, what they’re doing is they’re saying, 'I’ll fix up my house and maybe stay in my house.' It doesn’t put a house on the market."
"It’s a 13-year question," Taylor said. "If you look from 2010 to 2019, we under-built 6 million houses. The financial crisis, millennials living at home – for all of those reasons, we did not build at the pace the demand should have been because it just wasn’t perceived to have been there."