DWELLING DEFICIT – 12/13/21

The home ownership vacancy rate is 0.9%, the lowest rate since at least 1956. The rental vacancy rate is 5.8%, the lowest rate since 1984. Existing inventory is 1.27 million, the lowest October reading in over 20 years, built new inventory is at its lowest level since at least 1973, and the cost to buy a single-wide manufactured home went from $55,000 pre-Covid to $70,200. Talk about a supply problem! (Source: Dr. Elliot Eisenberg, the Bowtie Economist).

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