While real estate optimists will point to the estimated population growth, and subsequent housing need, as reasons new construction is likely to increase, but at least one expert is saying "not so fast". Tony Downs, points out in his article below, that these population and housing expectations are likely too high – not to mention the fact that banks are still unwilling to lend money to builders for the most part. For more on this, read the article below from National Real Estate Investor.
New construction of housing peaked at over 2 million units in 2005, and then collapsed 74% to 529,000 in 2010, as reported by Economic Indicators, a U.S. government publication. The combination of continuing foreclosures and a shortage of construction financing will block much new housing construction.
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