The Outlook for US Housing Supply and Affordability

From goldmansachs.com

A prolonged slowdown in US housing supply has made it increasingly difficult to afford a home, according to Goldman Sachs Research. Restrictive land use regulations are the most important housing market obstacle, and addressing these constraints could significantly close the gap in supply. The muted housing growth since the Global Financial Crisis in 2007-09 can be seen in the sharp decline in the share of homes available for sale or rent, Goldman Sachs Research economists Elsie Peng and Pierfrancesco Mei write in a report. Today, both rental and homeowner vacancy rates—the share of total housing stock available ... (full story)