3 Reasons why the housing shortage will last for years, Goldman Sachs says | Seattle RE Podcast

Supply for homes can't keep up with demand. At a point when the country badly needs more houses, housing starts fell 9.5% in April, and Goldman Sachs doesn't see the cavalry arriving soon.

A May 2 note from Goldman's Ronnie Walker found that new home sales and housing starts have reached their highest levels since 2006, and housing supply is at its lowest level since the 1970s. But as demand remains high, little is being done — and can be done — to fix the low supply. "The resulting picture is one of a persistent supply-demand imbalance in the years ahead," the note said.

The reasons why have to do with millennials aging into a homebuying time of life, the availability of construction materials and workers (or lack thereof), and even the foreclosures that may hit the housing market.

Join your host Sean Reynolds, owner of Summit Properties NW and Reynolds & Kline Appraisal as he takes a look at this developing topic.

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