[adam_arthur]

Households to number of homes built is exactly the same as it was in year 2000. You can compute it yourself using FRED data.

1.1 homes per household (or vice versa).

People who count from 2010 are cherrypicking the underbuilding decade while ignoring the overbuilding decade, 2000s.

There is no "shortage" of homes, there's a shortage of homes listed currently.

[thatguy0900]

Couldn't there also be a shortage of homes where people want them to be? A house in the city and a house in the boonies are not exchangeable

[adam_arthur]

That could apply to some local markets, sure. But we are seeing massive price increases rather universally, which implies it's a more widespread phenomena than just local undersupply.

But it will be true for certain markets. Most homebuilding is concentrated in the SMILE states (southern, areas where people are migrating to)